(fxcue news) - Higher GIFT Nifty and firm Asian markets point to a positive start for Indian shares Monday morning. Still, uncertainty surrounding U.S. trade and economic policies and fears of tariffs could limit market's upside. Some bargain hunting is likely after eight successive days of losses. Indian shares extended losses for an eighth straight day running on Friday despite positive cues from global markets, a weaker dollar and a dip in U.S. Treasury yields. Investors were nervous despite U.S. President Donald Trump announcing a delay in implementing reciprocal tariffs until April. The benchmark 30-share BSE Sensex ended the session down 199.76 points, or 0.26%, at 75,939.21. The broader NSE Nifty index closed at 22,929.25, down 102.15 points, or 0.44%, from its previous close. In corporate news, Glenmark Pharmaceuticals reported consolidated net profit of Rs 348 crore for the quarter ended December 31, 2024, as against a net loss of Rs 315 crore in the year-ago quarter. Godrjej Properties Limited shares will be in focus after the company said it has acquired 12 land parcels in the nine months to December 2024, to develop housing projects worth Rs 23,450 crore. SAIL announced that it is planning to set up a new rail mill at an investment of $800 million. According to a report released by the Reserve Bank of India on Friday, India's foreign exchange reserves jumped $7.654 billion to $638.261 billion in the week ended February 7. U.S. stocks turned in a relatively lackluster performance during trading on Friday. The major averages bounced back and forth across the unchanged line before eventually ending the day mixed. While the tech-heavy Nasdaq climbed 81.13 points or 0.4% to 20,026.77, the S&P 500 edged down 0.44 points or less than a tenth of a percent to 6,114.64 and the narrower Dow fell 165.35 points or 0.4% to 44,546.08. The Nasdaq surged by 2.6% last week, while the S&P 500 jumped by 1.5% and the Dow advanced by 0.6%. The mood was a bit cautious amid uncertainty about the near-term outlook for the markets following Thursday's rally, which saw the S&P 500 jump near its record highs despite data showing a bigger than expected increase by producer prices. Traders were also digested mixed batch of U.S. economic data, including a Commerce Department report showing retail sales slumped by much more than expected in January.