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Indian benchmark indices Sensex and Nifty50 opened lower on Friday following the U.S. imposition of steep tariffs on several trading partners, including reaffirming a 25% duty on imports from India. Investors viewed the tariff announcement as a pressure tactic and remained hopeful for resolution through ongoing negotiations. Sun Pharma dropped nearly 5% after reporting a decline in consolidated net profit.

Following Trump s tariff announcement, Indian traders are divided. Some are betting on Trump softening his stance, while others fear the impact on India s safe haven status. Experts suggest key sectors like IT, consumption, and financials remain strong. However, concerns linger about potential capital outflows and the impact on specific sectors like pharma and auto ancillaries.

The Reserve Bank of India (RBI) likely intervened in the foreign exchange market on Friday to bolster the rupee, which opened nearly flat at 87.60 against the dollar. This action comes amid concerns over potential U.S. trade tariffs and continuous foreign portfolio outflows from Indian equities. Several traders reported state-run banks offering dollars from the 87.

Reliance Power and Reliance Infrastructure shares declined following the Enforcement Directorate s summons to Anil Ambani over an alleged Rs 17,000-crore loan fraud. The ED s investigation involves searches at multiple locations and focuses on suspected fund diversions. SEBI has also submitted findings on Reliance Infrastructure s dealings with CLE Pvt Ltd, alleging disclosure violations and related-party transaction breaches.

Hindustan Unilever s shares surged following a seven-quarter high revenue growth of 5% in Q1 FY26, prompting brokerages to raise target prices. The company s net profit rose 7.6% YoY, with analysts citing improved macro conditions and strategic interventions by the new CEO as drivers for future growth and margin recovery. Brokerages largely recommend holding or accumulating the stock.

Despite ongoing uncertainty in U.S. trade negotiations, the market remains optimistic, dismissing much of the rhetoric as bargaining tactics. While a headline deal between the U.S. and India is possible, the details may take time to finalize. India s strong domestic economy gives it leverage in negotiations, making it less vulnerable than other economies.

PNB Housing Finance s shares plummeted after Girish Kousgi, the MD & CEO, resigned to pursue other opportunities, effective October 28, 2025. The company affirmed its commitment to growth and stability, initiating a search for a new leader. While shares dropped significantly intraday, they have shown positive growth over the past year and five years.

Ray Dalio has sold his remaining stake in Bridgewater Associates. He founded the hedge fund 50 years ago. Brunei Investment Agency has acquired a minority stake in the firm. Dalio resigned as CEO in 2017. He handed over control in 2022. Bob Prince is now Bridgewater s biggest individual partner. The firm is controlled by a group of employees.