New Delhi, April 3 -- The first day of trade following the announcement of retaliatory tariffs by Donald Trump has come to a close for Asian markets, and India has emerged as a bright spot amid a deeper bloodbath seen in other regional peers.

While on one hand Japan's Nikkei dipped 2.8%, South Korea's Kospi lost 1.1% and Hong Kong's Heng Seng shed 1.7%, on the other Dalal Street emerged relatively better with a mere 0.40% fall in headline indices, signaling that the country might be better placed than previously thought to weather the 26% tariff imposed on India.

Analysts say while the headline number of 26% might appear massive, it comes as a relief because of no incremental impact on large exporting sectors like IT services, pharma an...