Tata Steel, Maruti, Tata Motors, Infosys, Bharti Airtel and Tech Mahindra were also among the laggards. However, Trent, Asian Paints, Hindustan Unilever, ITC, Kotak Mahindra Bank, and Reliance Industries were the gainers.
US President Donald Trump claimed that "five jets were shot down" during the conflict between India and Pakistan in May and repeated his assertion that the fighting ended following his intervention. India has maintained that the two sides halted their military actions following direct talks between their militaries without any mediation by the US.
Equity benchmark indices Sensex and Nifty ended lower on Thursday after US President Donald Trump announced the imposition of a 25 per cent tariff on all goods coming from India starting August 1 and an unspecified penalty for buying Russian crude oil and military equipment.
On Friday, during the weekly media briefing, MEA spokesperson Randhir Jaiswal, when asked about media reports that some Indian oil companies have stopped taking oil from Russia, had said India has made clear its approach on the issue.
Prime Minister Narendra Modi on Friday said India will never compromise the interests of its farmers, fishermen and dairy farmers, asserting that he would be ready to pay any price.
Reserve Bank of India (RBI)Governor Sanjay Malhotra on Friday said it was not the regulator's job to take decisions for bank boards, speaking in the context of the wide range of enabling reforms announced for lenders during the October monetary policy review, and emphasised that financial stability remained the regulator's focus.
Defence Minister Rajnath Singh lauded 'Operation Sindoor' as a prime example of tri-services synergy, emphasizing Pakistan's ongoing recovery from the operation's impact. He highlighted the need for coordinated defense strategies and civil-military fusion to address modern security challenges.
A government official said India and the US are exploring an interim trade deal within 90 days.
Trump said that leaders in India and Pakistan are "great leaders" and "they understood, and they agreed, and that all stopped".
Pakistan and China are among the countries which are testing nuclear weapons, United States President Donald Trump has said to justify his administration's plans to resume testing of the US's own nuclear assets after a gap of over three decades.
From the Sensex firms, Kotak Mahindra Bank, Eternal, Asian Paints, NTPC, Bharat Electronics Ltd, Adani Ports, Infosys and State Bank of India were among the major gainers. However, Titan tumbled over 6 per cent. Trent, Axis Bank, Maruti and Hindustan Unilever were also among the laggards.
The White House mentioned that American companies are replacing US workers with H-1B workers.
Trading sentiment in the equity market will be guided by macroeconomic data announcements, global trends and quarterly earnings from IT major TCS this week, analysts said. Stock markets would also be tracking trading activity of foreign investors who remained net sellers of Indian equities in September.
New investors should not allow themselves to fall prey to FOMO and rush headlong into gold.
Indian Pharmaceutical Alliance (IPA) on Friday said US President Donald Trump's move to impose 100 per cent import tariffs on pharmaceutical drugs from October 1 will impact only patented and branded products, not generic medicines.
Indian Hotels Company Ltd (IHCL) net profit rose 15 per cent in the second quarter after excluding the one-off exceptional gain of Rs 307 crore in the previous year. Net profit fell 45 per cent when compared with the previous year's earnings after including a one-off gain.
Merchandise exports to the US jumped 23.5 per cent year-on-year (Y-o-Y) to $8.3 billion in June, even as India's overall outbound shipments witnessed contraction during the month, according to the data released by the commerce department on Tuesday. The increase in outbound shipments to the US was largely driven by the rush among exporters to utilise America's pause on its plans to impose country-specific reciprocal tariffs.
Describing the Indian Ocean as a living testament to long-standing ties between the Maldives and India, Maldivian President Mohamed Muizzu has said that the two nations have forged a resilient and unbreakable bond that extends far beyond diplomacy.
US President Barack Obama has said the proposed land mark trade deal with South Korea is expected to support over 70,000 American jobs while recalling the recent trade deals during his Indian visit would back another 50,000 jobs.
'Trump is likely being purposefully vague, hoping that this lack of clarity will pressure India, fearing the worst, to agree to scale back its imports of Russian oil.'
In response to US criticism of India's oil imports from Russia, the Indian Army shared a 1971 news clip highlighting the US's role in arming Pakistan.
"I understood tariffs better than any human being in the world. And now with my tariffs, they were all dropping them. India was the most highly tariffed nation... And you know what, they've offered me no tariffs in India anymore. No tariffs," Trump said.
'...it should not delude itself into thinking that India's security or its great-power ambitions will be advanced by those partnerships.'
'Instead, what India should focus on is on riding out the next three-and-a-half years of Trump's presidency with minimal damage to itself.'
"For instance, you generally buy your military gear from Russia. That's a way to kind of get under the skin of America, if you go to buy your armaments from Russia."
The textile and apparel sector is India's second-largest employment provider, after agriculture, and it is now caught in a wave of uncertainty following the Donald Trump administration's tariff policy.
US President Donald Trump has repeated his claim of "stopping" the conflict between India and Pakistan through trade and tariffs, and suggested he deserves the Nobel Peace Prize for settling multiple conflicts.
In trade negotiations, as in chess, sometimes you need to accept a temporary disadvantage to secure a better long-term position, points out Sonal Varma, chief economist (India and Asia ex-Japan) at Nomura.
The AAP and BJP have engaged in a war of words over Delhi Chief Minister Rekha Gupta's Karwa Chauth celebration, with the AAP mocking the event and the BJP accusing them of being "enemies of Sanatan Dharma."
'Things may get much worse before they get better,' predicts Ajay Chhibber.
'We should watch -- in the near term -- for signs that the two have totally fallen out at a personal, political level.' 'Trump and Modi know how to be dealmakers, but they also know how to hold a grudge.'
US President Donald Trump has repeated his claim that Washington got involved with India and Pakistan, saying he didn't like what was happening and that he did a good job as he convinced the two countries to let's have peace and let's go and make trade deals.
He said both sides agreed to hold a meeting of senior advisers next week, led on the US side by Secretary of State Marco Rubio, before a proposed leaders' meeting in Budapest, Hungary.
India has cautioned against 'double standards' regarding its energy procurement from Russia, asserting that it is based on national interests and market dynamics, following a threat of secondary sanctions from NATO Secretary General Mark Rutte.
Trade ministers of key WTO member countries, including India would meet on the sidelines of the Organisation for Economic Cooperation and Development meeting in Paris in the last week of May.
'First, develop the ability to sell -- to persuade, negotiate and close. Second, understand the financial mechanics that determine where value pools and how profits are captured,' says Shaadi.com founder Anupam Mittal.
BMW India CEO says gradual five-year import duty cuts under new FTAs create buyer hesitation and urges government to announce year-wise rates instead.
US sanctions against two of Russia's largest oil companies are expected to impact Reliance Industries' crude imports from Russia, while state-run refiners may continue purchases through intermediary traders for now.
...a time when his legacy ledger was still positive and before the debacle against China. With every subsequent election, our leaders tend to become weaker. India should consider passing a law that no person should hold the highest office in our country for more than two terms, points out Harishchandra.
The 15th India-Vietnam Defence Dialogue signalled a move from routine talks to deeper cooperation, with new deals on submarine rescue and defence industry to support stability in the Indo-Pacific, notes Dr Rajaram Panda.
President Trump says the US is close to a trade deal with India, while also claiming to have stopped a war between India and Pakistan.
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