Asian shares and US stock futures fell again on concern US president Donald Trump’s tariffs are here to stay after his administration reiterated its resolve to keep the levies amid a legal tussle.

Futures tied to the S&P 500 rose 1.2%, while Nasdaq 100 futures gained 1.7%. Dow futures climbed around 300 points, or 0.7%. On Wednesday night, the U.S. Court of International Trade ruled that Trump overstepped his authority when he imposed his "reciprocal" tariffs. The court ordered that the challenged tariff orders be vacated.

Benchmark indices rallied on Friday with the Sensex gaining 769 points to close at 81,721 and the Nifty rising 243 points to end at 24,853. The Nifty Bank gained 457 points to 55,398 while the Nifty Midcap index added 363 points to settle at 56,