Indian shares look set to open on a sluggish note Monday as the return of tariff concerns soured investors’ appetite for riskier assets.
The European Union is reportedly preparing to strike the U.S. with a hefty set of tariffs worth €93bn ($107.71bn) after Donald Trump threatened to impose a 10 percent tariff on goods from eight European countries starting Feb. 1, rising to 25 percent in June unless there’s a deal for a “purchase of Greenland”.
The bloc is also considering restricting U.S. companies from its market in response to the threats, according to the Financial Times.
Investors may also react to reports suggesting that India may withdraw from Iran’s Chabahar port project due to U.S. sanctions on Iran.
On the earnings front, HDFC Bank beat quarterly profit expectations while ICICI Bank and Reliance Industries both reported profits that came in below market expectations.
More than 200 companies including IndusInd Bank, LTIMindtree, BHEL, Dr Reddy’s Laboratories, BPCL, Eternal, Cipla, JSW Steel, Shriram Finance, Kotak Mahindra Bank and UltraTech Cement will be unveiling their quarterly earnings results this week.
Asian markets were mostly lower this morning as investors assessed Greenland developments and awaited a slew of data from China, including Q4 GDP numbers.
The dollar index was under pressure, helping lift gold more than one percent to another record high above $4,660 per ounce.
Oil prices were little changed as geopolitical tensions around Iran receded following earlier concerns about supply disruptions.
U.S. stocks ended a choppy session modestly lower on Friday amid worries over threats to the Fed’s independence and heightened geopolitical risks in Iran and Greenland.
The Dow dipped 0.2 percent after President Trump suggested National Economic Council Director Kevin Hassett may not be his choice to become the next Federal Reserve chair, prompting traders to dial back expectations for rate cuts.
The tech-heavy Nasdaq Composite and the S&P 500 both finished marginally lower.
European stocks ended lower on Friday amid lingering geopolitical tensions and uncertainty surrounding French budget negotiations.
The pan European Stoxx 600 closed flat with a negative bias. France’ CAC 40 shed 0.7 percent, the German DAX slid 0.2 percent and the U.K.’s FTSE 100 finished marginally lower.
Business News
Indian Shares Likely To Drift Lower On Tariff Worries
2026-01-19 02:27:17
