Jefferies assesses Trump’s 26% tariff impact on Indian sectors. IT services and pharma face minimal risk, while textiles, chemicals, and solar are among the worst hit. Autos and industrials with high U.S. exposure remain vulnerable. Weaker U.S. GDP growth poses a larger indirect threat.

Indian benchmark indices closed lower on Thursday after the U.S. imposed 26% reciprocal tariffs, though losses were tempered by a surge in pharma stocks exempted from the duties and a relatively lower tariff rate compared to other Asian peers.

Donald Trump s latest tariffs have significantly impacted US assets, with equity index futures down over 4% and the dollar slumping. The US stock market, already struggling, faces increased pressure, while international investors may shift funds away from the US due to growing trade war concerns.

The rupee closed stronger at 85.43 against the USD, helped by a weaker dollar and inflows, while India faces a softer tariff levy than its regional peers. The rupee trimmed earlier losses, supported by broad-based interbank offers, and was further bolstered as the dollar index dropped significantly.

Veteran investor Vijay Kedia views the US tariffs on India as an opportunity for transformation and believes it will renew India s economic and emotional strength. Despite the volatility and concerns in the Indian market, experts suggest this challenge could be a pivot point for deeper trade rebalancing.

The Nifty Bank index closed 0.49 per cent up at 51597.35.

Ramesh Damani believes Donald Trump will reverse his policies and declare victory to avoid admitting failure. He argues Trump s actions are damaging global order and U.S. economic power, but the world is rapidly forming new alliances and moving on. Damani asserts America will eventually realize its overreach and attempt to restore normalcy.

The National Company Law Tribunal (NCLT) has sanctioned the settlement plan for Supreme Infrastructure India s ₹2,200 crore financial liabilities. The plan includes structured repayments through asset monetisation and contributions from promoters and new investors, addressing the outstanding debt with a total payout of ₹464 crore to financial creditors.

Gupta succeeds Michael Debabrata Patra whose five-year term ended in January. In the interim, deputy governor M Rajeshwar Rao has been overseeing monetary policy. The choice of Gupta - an expert in developmental economics and international trade - reflects the government s focus on economic policy amid global uncertainty driven by US tariffs and trade war.