Markets trade higher; Nifty at 23,600, Sensex up 90 points; Jio Fin up 3%

The Indian equity markets opened Friday’s trade on a flat to positive note. The Nifty 50 opened the sessions at 23,600 while the BSE Sensex rose 96 points or 0.12% to open at 77,702. It took cues from the Asian markets, which are mostly lower due to the new 25% auto tariffs imposed by the US.

Here are key factors to watch out for trade-

US tariffs: US President Donald Trump announced 25% tariffs on all vehicles and foreign-made auto parts imported into the United States. This move was made by the White House to foster domestic manufacturing, but it could also put a financial squeeze on automakers that depend on global supply chains.

Asia markets: Asia markets continued to trade on a lower note as investors weighed U.S. President Donald Trump’s 25% tariffs on auto imports. Japan’s Nikkei 225 was trading 2.15% lower at 36,993. The Asia Dow was trading 1.51% lower at 3,686.45. South Korea’s Kospi was down 1.34% at 2,572. The Shanghai Composite was trading flat at 3,373.74.

FII buying: Foreign institutional investors (FIIs) have finally turned buyers after selling for five consecutive months. In March, they are a net buyer of Rs 6,367 crore. They were the net seller in the cash market for the last five months, excluding March.