MUMBAI: Indian shares edged lower on Wednesday as financials retreated from recent highs, overshadowing optimism over a potential India–US trade deal, while HDB Financial Services, the year’s largest IPO, surged on debut.
The Nifty 50 fell 0.35% to 25,453.40 and the Sensex slipped 0.34% to 83,409.69.
President Donald Trump said on Tuesday the US was close to finalising a trade agreement with India, which could help the country avoid a 26% reciprocal tariff announced in April and paused until July 9.
“Investors aren’t buying into Trump’s sound bites anymore. Indecision will prevail in markets until there’s a deal signed, sealed, and delivered,” said Sanjeev Hota, vice president and head of research of wealth management at Mirae Asset Sharekhan.
“Besides, if the US fumbles on broader trade negotiations with other key trading partners, it could ripple through inflation, rates, and global risk sentiment,” Hota added.
Comments
Comments are closed for this article.