(Reuters) -India’s benchmark indexes opened little changed on Wednesday, after logging gains in the previous seven sessions, as investors await clarity on the impending U.S. tariffs.
The NSE Nifty 50 rose 0.12% to 23,696.3, while the BSE Sensex traded 0.02% higher at 78,035.85 respectively, as of 9:30 a.m. IST.
Eleven of the 13 major sectors gained at open. The broader, more domestically focussed smallcaps and midcaps rose 0.3% and 0.6%, respectively.
In the last seven sessions, the two benchmarks added 5.7%, turning positive for year-to-date, as foreign capital inflows and hopes of improved domestic macroeconomic factors drove bargain buying.
“While the worst is likely behind Indian markets in terms of economic growth and earnings, there will be higher market volatility in the near-term due to global uncertainty over tariffs,” analysts led by Goldman Sachs’ Rahul Jain said in a note.
U.S. President Donald Trump has threatened to impose reciprocal tariffs on all countries on April 2. On Monday, the U.S. administration indicated that not all the tariffs will be imposed on April 2 and that there was no clarity on the countries and sectors that may be spared.
($1 = 85.6660 Indian rupees)
(Reporting by Vivek Kumar M and Bharath Rajeswaran; Editing by Eileen Soreng and Sumana Nandy)
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