What is the story about?
Indian equity markets may react on Thursday to US President Donald Trump's remark on the India-US trade deal.
On the sidelines of the World Economic Forum summit in Davos, Trump was asked by Moneycontrol's Chandra Srikanth about the deal, to which he replied "First of all I have great respect for your Prime Minister. He's a great man and a great friend of mine and we're going to have a good deal."
However, Trump did not specify a timeline as to when will the deal, which has undergone multiple rounds of negotiations between the two countries, will eventually be signed.
Indian exports currently have a 50% tariff rate from the US.
India's stock markets have sold off sharply over the last few trading sessions owing to multiple reasons, the uncertainties surrounding the trade deal with the US being one of them. Geopolitical tensions, concerns surrounding Japan's bond market, breaking of key technical levels, and relentless selling pressure from foreign institutions, along with a depreciating currency, are some of the other factors behind the fall seen in Indian equities.
To be updated with more.
On the sidelines of the World Economic Forum summit in Davos, Trump was asked by Moneycontrol's Chandra Srikanth about the deal, to which he replied "First of all I have great respect for your Prime Minister. He's a great man and a great friend of mine and we're going to have a good deal."
However, Trump did not specify a timeline as to when will the deal, which has undergone multiple rounds of negotiations between the two countries, will eventually be signed.
Indian exports currently have a 50% tariff rate from the US.
India's stock markets have sold off sharply over the last few trading sessions owing to multiple reasons, the uncertainties surrounding the trade deal with the US being one of them. Geopolitical tensions, concerns surrounding Japan's bond market, breaking of key technical levels, and relentless selling pressure from foreign institutions, along with a depreciating currency, are some of the other factors behind the fall seen in Indian equities.
To be updated with more.
