Despite brief relief, the US-China trade war escalated as Trump hiked tariffs on Chinese goods to 125% after China raised its tariffs on US goods to 84% from April 10.
The Nifty 50 rose 1.08 percent to 22,409.15 while the BSE Sensex gained 1 percent to 73,860.7 respectively, as of 10:22 AM, after initial rise of 1.9 percent in the morning.
IMF's World Economic Outlook suggests growth slowdown in current year is concentrated in advanced economies, while emerging & developing economies are likely to lead global growth.
After a week of turmoil in markets over bank failures in major economies, Asian shares and currencies rebounded on Friday, as the dollar index fell 0.3%.
Overseas funds have sold a net $3.1 billion worth of shares in Taiwan, South Korea and India this week. That follows $4.9 billion of withdrawals last week, highest since August.
Finance ministry says the proposed revamp will focus on structural reforms, rate rationalisation & ease of living, & will be deliberated upon in the coming weeks.
The project is meant to be a ‘protective shield that will keep expanding’, the PM said. It is on the lines of the ‘Golden Dome’ announced by Trump, it is learnt.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
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