Indian stock market: The equity market benchmark indices, Sensex and Nifty 50, are expected to extend losses and open lower on Friday, following weak global market cues, after US President Donald Trump announced fresh tariffs on pharmaceutical products, furniture, and heavy trucks.

Asian markets slipped, while the US stock market ended lower overnight, after stronger US economic data cast doubt on the Federal Reserve’s rate cut outlook.

On Thursday, the Indian stock market ended sharply lower, extending losses for the fifth straight session, with the benchmark Nifty 50 index slipping below 24,900.

The Sensex declined 555.95 points, or 0.68%, to close at 81,159.68, while the Nifty 50 settled 166.05 points, or 0.66%, lower at 24,890.85.

“We expect markets to remain under pressure in the near term, tracking global headwinds, macroeconomic data releases, and developments around the India–U.S. trade talks. Concerns over economic growth persist amid the impact of rising global commodity prices, weakening Rupee and US tariffs adding to investor caution,” said Siddhartha Khemka – Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.

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Here are key global market cues for Sensex today:

Asian Markets

Asian markets traded lower on Friday after Donald Trump announced fresh tariffs on furniture, heavy trucks and pharmaceutical products. Japan’s Nikkei 225 declined 0.28%, while the Topix rose 0.39% to reach a fresh record high. South Korea’s Kospi dropped 1.54%, while the Kosdaq retreated 1.45%. Hong Kong’s Hang Seng index futures indicated a lower opening.

Gift Nifty Today

Gift Nifty was trading around 24,902 level, a discount of nearly 66 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.

Wall Street

US stock market ended lower on Thursday after economic data increased uncertainty over the outlook for interest rate cuts from the Federal Reserve.

The Dow Jones Industrial Average declined 173.96 points, or 0.38%, to 45,947.32, while the S&P 500 dropped 33.25 points, or 0.50%, to 6,604.72. The Nasdaq Composite ended 113.16 points, or 0.50%, lower at 22,384.70.

Accenture shares fell 2.7%, Nvidia share price rose 0.41%, Apple stock price rallied 1.81%, Microsoft stock declined 0.61, while Intel shares jumped 8.9% and Tesla stock price plunged 4.38%. CarMax shares fell 20.1%.

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The US economy grew faster than previously estimated in the second quarter. US Q2 GDP increased at an upwardly revised 3.8% annualized rate, the fastest pace since the Q3 of 2023. The economy was previously reported to have grown at a 3.3% pace in the second quarter. Economists polled by Reuters had expected GDP growth would be unrevised. US GDP contracted at a 0.6% pace in the Q1, revised slightly down from the previously reported 0.5% pace of decline.

Trump Tariffs

President Donald Trump said that he will put import taxes of 100% on pharmaceutical drugs, 50% on kitchen cabinets and bathroom vanities, 30% on upholstered furniture and 25% on heavy trucks starting on October 1.

US Jobless Claims

The number of Americans filing new applications for unemployment benefits fell last week. Initial claims for state unemployment benefits dropped 14,000 to a seasonally adjusted 218,000 for the week ended September 20. Economists polled by Reuters had forecast 235,000 claims for the latest week.

US Durable Goods Orders

New orders for key US-manufactured capital goods unexpectedly increased in August. Non-defense capital goods orders excluding aircraft rose 0.6% last month after a downwardly revised 0.8% jump in July. Economists polled by Reuters had forecast these core capital goods orders dipping 0.1%. Orders for durable goods, items ranging from toasters to aircraft meant to last three years or more, rebounded 2.9% in August after falling 2.7% in July.

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Accenture reported a 7% YoY rise in revenue to $17.60 billion in the June-August 2025 quarter, beating analysts’ average estimate of $17.36 billion. The revenues reflect a foreign-exchange impact of about 2.5%, the company said. New bookings increased 6% to $21.31 billion during the quarter.

The firm posted a 7% increase in full-year revenues to $69.7 billion. Accenture sees full-year 2026 revenue growth between 2% and 5%, slightly below estimates of 5.3%, according to data compiled by LSEG. The company said it expects to return at least $9.3 billion in cash to shareholders in FY26.

Gold Prices

Gold prices fell after stronger-than-expected US economic data weighed on Fed rate cut outlook and lifted the dollar. Spot gold price dropped 0.2% to $3,741.71 per ounce. Bullion rose 1.7% so far this week. US gold futures for December delivery were unchanged at $3,772.20.

Dollar

The US dollar index hovered near a three-week high at 98.42 on reduced expectations of Fed rate cuts. The dollar hovered close to the 150 yen level. The euro last bought $1.1668, having lost 0.6% in the previous session, while sterling was little changed at $1.3344.

(With inputs from Reuters)

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