(fxcue news) - Indian shares may struggle to find footing on Friday after recent string of gains and amid jitters in the run-up to an increase of U.S. tariffs that will come into force on April 2. Dampening prospects of a concession, U.S. President Donald Trump said Thursday India will face reciprocal tariffs, a move likely to hurt India's exports of agricultural and pharmaceutical goods. "I have a very good relationship with India, but the only problem I have with India is that they are one of the highest tariffing nations in the world. I believe they are probably going to be lowering those tariffs substantially, but on April 2, we will be charging them the same tariffs they charge us," Trump said in an interview with U.S.-based Breitbart News. Domestic markets remain sensitive to sentiment shifts despite FIIs turning net buyers in Indian equities for the first time in months. Benchmark indexes Sensex and Nifty jumped around 1.2 percent each on Thursday to extend gains for a fourth straight session, while the rupee gained 1 paise to close at 86.36 against the dollar. Asian markets were muted this morning while the dollar stood tall, pushing gold prices lower. Oil prices were set for a second weekly gain after the U.S. sanctioned a Chinese refinery for the first time, in a marked step-up of measures to curb supply from Iran. Also, a new OPEC+ plan announced Thursday for seven members to cut output raised bets on tightening supply. U.S. stocks fluctuated before closing modestly lower overnight on fears over President Trump's tariffs and signs of escalating geopolitical tensions, following reports of Israeli airstrikes on Gaza and a huge blast triggered by a Ukrainian drone attack on a Russian airfield. Jobless claims held steady last week and there was an unexpected increase in existing home sales, helping calm concerns about an economic slowdown. The tech-heavy Nasdaq Composite slipped 0.3 percent and the S&P 500 eased 0.2 percent while the narrower Dow ended little changed. European stocks ended a four-day winning streak on Thursday as investors digested a slew of policy announcements from central banks, including the U.S. Federal Reserve and the Bank of England. The pan European STOXX 600 dropped 0.4 percent. The German DAX lost 1.2 percent, France's CAC 40 fell 1 percent and the U.K.'s FTSE 100 finished marginally lower.