The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading around 25,495 level, a discount of nearly 44 points from the Nifty futures’ previous close.

Buying was seen in the IT, PSU bank and financial service sectors. According to analysts, the announcement of unilateral tariffs on 14 countries and the exclusion of India from the list indicate that a trade deal between India and US will be announced soon.

Indian shares inched lower on Thursday as continued profit taking in financials overshadowed optimism over easing global trade tensions.