Stock Market Update: Nifty50 and Sensex Slip in Early Trade Amid Global Cues

• Nifty50 and Sensex open lower after recent rally
• Trump tariff concerns weigh on market sentiment
• Largecaps outperform while midcaps, smallcaps lag

Indian equity indices Nifty50 and BSE Sensex began lower on Friday, breaking their recent streak. At 9:16 AM, Nifty50 was trading at 25,048.00, falling 36 points (0.14%), while BSE Sensex fell 114 points (0.14%) to 81,886.36. Nifty50 remained above the key level of 25,000 despite the decline.

VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said Trump's suggested 25% tariffs had the potential to be a tougher drag on Indian growth than initially anticipated, and could run higher than the previous estimate of having a 20–30 bps impact. He pointed out that largecaps are gaining against midcaps and smallcaps, a trend he believes will continue based on fundamentals. While the Nifty gained 1% during the previous year, the Nifty Midcap 150 fell 0.35% and the Nifty Smallcap 250 fell 4.7%.

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Global signals also dampened sentiment. US markets fell on Thursday as investors held their breath for Fed Chair Jerome Powell's address at the Jackson Hole symposium, while Walmart earnings put pressure on it. In Asia, markets traded in a tight range, following the US decline and reprice Fed rate-cut hopes.

Simultaneously, gold prices stabilized before Powell's address in response to investors being cautious. Domestically, FPIs were net buyers and bought shares valued at  Rs 1,246 crore on Thursday