The Indian stock market closed down on Friday (May 30) in the last trading session of the week amid a decline in Asian markets. On Thursday, a US appeal court temporarily restored the biggest tariff imposed by President Donald Trump. This led to a decline in IT shares and the market slipped down. Thirty -share BSE Sensex today opened with a decline at 81,465.69 points. It was in red mark most of the time during business. At one time it slipped up to 81,286.45 points. Finally, the Sensex closed at 81,451.01 with a decline of 182.01 points or 0.22%.
The Indian stock market opened with a decline in the last trading session of the week on Friday (May 30) amid a decline in Asian markets. On Thursday, a US appeal court temporarily restored the biggest tariff imposed by President Donald Trump. This led to a decline in IT shares and the market slipped down. The fourth quarter GDP figures, the results of the companies’ march quarter, the restoration of the tariffs of the trump, the activation of foreign investors, the foreign exchange data and mixed global signals will make the benchmark index Sensex and Nifty move on the last trading day of the week.
Earlier on Thursday, the Indian stock market closed up in ups and downs. The BSE Sensex rose 320.70 points or 0.39% to close at 81,633.02. The National Stock Exchange (NSE )’s Nifty-50 was 81.15 points or 0.33% to close at 24,833.60. Investors will eye on the March quarter GDP data. These will be released today. Despite the vigilant investment activity by private firms due to global uncertainties, the rise in rural demand and increase in government spending is likely to increase the country’s economic growth in the January-March quarter.
Ban on the decision of the lower court to stabilize tariffs
A Washington’s appeal court said that it was staying the decision of the lower court and will soon consider the government’s appeal. Both sides have been given dates to respond. The lower court had admitted that according to the constitution, only the Congress has the right to impose tax and tariffs, not with the President. Trump cited the International Emergency Economic Power Act, which applies during the national emergency.
What are the signs of global markets?
Asian markets declined on Friday. The slowed US economy, the possibility of frequent inflation and the legal uncertainty of US President Donald Trump on the ‘mutual’ tariff affected investors’ notion. Nikkei declined by 1.48 percent. While the broad subject index declined by 0.8 percent. South Korea’s Kospi fell 0.18 percent and ASX 200 declined by 0.19 percent.
On Thursday, the three major index in the US closed with an edge. American markets gained momentum due to technical shares, especially in Nvidia. However, uncertainty over court decisions limited the boom. S&P 500 rose by 0.4 percent after an increase of 0.9 percent in Intrade. Nasdaq Composite rose by 0.39 percent, which reduces the highest price of the session by 1.5 percent. Dow Jones rose by 0.28 percent.
Foreign investors continue to shop
Foreign institutional investors (FIIs) on Thursday bought shares worth Rs 884.03 crore. Similarly, domestic institutional investors (DIIs) bought shares of ₹ 4,286.50 crore on 29 May.
