The Nifty bulls went into the weekend as happy campers, with the index making a new high for the week and financials leading the charge. They would now be hoping that this is not short-lived after the latest US-China developments from Friday and over the weekend. Their prayers were answered too as US President Donald Trump backtracked yet again after Friday's tirade.

The Nifty 50 index gained 1.6% last week, its best in over three months. The index also made a weekly high of 25,330 in the process, registering its fifth weekly advance out of the last six. All of that will now be challenged in Monday's session.

US President Donald Trump announced on Friday that the US will be imposing another 100% tariffs on Chinese imports from November 1, as China has turned "hostile" recently and also a

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