Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in red on Friday as Donald Trump’s 50% tariffs on India and its likely impact on exports and economy hit sentiment. While Nifty50 was near 24,550, BSE Sensex was down over 120 points. At 9:18 AM, Nifty50 was trading at 24,568.60, down 28 points or 0.11%. BSE Sensex was at 80,500.27, down 123 points or 0.15%.Market experts anticipate sideways trading, influenced by US-Russia diplomatic negotiations, India’s stance on US tariffs and corporate earnings trends.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “The market continues to be technically and fundamentally weak. Continuous lower lows on the Nifty is technically a weak sign. From the fundamental perspective, there are no indications yet of a sharp uptick in earnings for FY26. These weak indicators, along with the relatively high valuations in India, are triggering sustained selling by the FIIs. FIIs have sold on all trading days of August, so far, taking their total cash market selling in August, till now, to Rs 15950 crores. Yesterday’s sharp 250 point recovery from the low level in Nifty was caused by short covering triggered by the strong buying by DIIs of Rs 10864 crores. In the present context of negative sentiments in the market caused by the tariff skirmishes between India and the US, FIIs are likely to continue selling in the cash market. The only saving grace is the sustained DII buying which remains strong. The strong DII buying assisted by sustained flows into mutual funds can prevent a crash in the market. Investors may wait and watch for the developments on the tariff front to unfold.”The Dow Jones and S&P 500 declined on Thursday, affected by Eli Lilly’s share price drop following underwhelming results from its oral weight loss medication, whilst the Nasdaq achieved a new record at closing.Asian equities moved higher as trading commenced on Friday, heading towards their fifth straight day of gains, with Japanese markets benefiting from technology sector strength.Oil prices stayed relatively stable during early Asian trading on Friday, yet were on track for their largest weekly decline since late-June. Investors showed worries about the effects on the global economy from newly implemented tariffs that became effective on Thursday.Gold futures reached new highs on Friday after news emerged about the United States imposing tariffs on one-kilo gold bar imports. Spot gold was set to record its second consecutive weekly increase, influenced by tariff uncertainties and anticipated US interest rate reductions.Foreign portfolio investors executed net sales of shares valued at Rs 4,997 crore on Wednesday. In contrast, DIIs conducted net purchases amounting to Rs 10,864 crore.(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)