Benchmark indices gained on Friday in tune with other Asian markets as fears of trade wars receded as US softened its stance on import tariff on steel and aluminium by exempting its partners and hinted at possibility of alternatives for other countries.
This decision came in after the US President last week talked about “no-exceptions”. Markets world over took it as a sign that the country does not want escalated trade wars.
The BSE Sensex rose over 50 points in the early trade. However, the index erased gains as the session progressed. The 30-pack index was trading 15.15 points, or 0.05 points, lower at 33,317.56. The 50-pack Nifty50 was ruling at 10,237.50, down 5.15 points, or 0.05 per cent.
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