MUMBAI: Indian stock markets on Wednesday reversed the gains, with both indices declining in opening, taking cues from global markets as Trump announced China tariffs of 104 per cent loom, showing no near relief in the tariff dark clouds.

The Nifty 50 index declined by -75.55 (-0.34 per cent) to open at 22,460.30, while the BSE Sensex opened at 74,103.83 with a decline of -123.25 points or -0.17 per cent.

Experts stated that today, the RBI MPC announcement is the main focus for Indian stock markets, but Trump's tariff effect is still significant, dragging markets globally.