Stock markets stalled Friday as the latest trade-related rally lost steam and US President Donald Trump rated the chances of Washington striking a trade deal with the European Union at barely 50/50. But Trump cautioned that in his view striking a deal with the European Union to reduce import tariffs will be a challenge.

Advising retail investors to remain cautious about the India-US trade deal euphoria, Avinash Gorakshkar, SEBI-registered fundamental market analyst, said, "The India-US trade deal is about ensuring the interest of the two economies.

After months of intensive talks and shuttle diplomacy, a trade agreement between the European Union and the US now rests mostly on Donald Trump.