Indian shares closed lower on Friday due to tariff concerns, speculation about the Federal Reserve chair appointment, and caution ahead of the Union Budget. President Trump threatened Canada with a 50 percent tariff on aircraft sold in the U.S. and signed an executive order targeting countries supplying oil to Cuba, putting pressure on Mexico. The rupee hit a record low, following a rebound in the dollar. Former Federal Reserve governor Kevin Warsh emerged as a top contender for the Fed chair position, with a moderately hawkish stance. The BSE Sensex dropped 0.36 percent, while the NSE Nifty slipped 0.39 percent. Metal stocks fell, with Tata Steel down 4.6 percent, while BEL, ITC, SBI, and Mahindra & Mahindra rose over 1 percent. NSE and BSE will have a special trading session on Sunday for the Union Budget 2026 presentation.

Read more at Nasdaq: Indian Shares End Lower Before Trump’s Fed Chair Pick