INDIA STOCKS-India's benchmark indexes set to track Asian peers lower on trade fears

Feb 3 (Reuters) - India's benchmark indexes are expected to open lower on Monday, likely following the trend of Asian peers, after U.S. President Donald Trump's tariffs on Canada, Mexico and China spurred concerns of a broad trade war.

The GIFT Nifty futures GIFc1 were trading at 23,366.5, as of 8:04 a.m. IST, indicating that the blue-chip NSE Nifty 50 .NSEI will open below Saturday's close of 23,482.15.

Other Asian markets slid at the open, with the MSCI Asia ex-Japan index .MIAPJ0000PUS dropping about 2.6%. The fall comes after Trump slapped tariffs on the three countries at the weekend, triggering concerns of a potential impact on global growth. MKTS/GLOB

Canada and Mexico pledged retaliatory measures, while China said it would challenge the 10% levy imposed upon it at the World Trade Organization.

Both the Nifty and BSE Sensex .BSESN indexes closed largely unchanged in the special session on Saturday, as investors processed the union budget announcements.

Consumption-linked consumer goods .NIFTYFMCG, auto .NIFTYAUTO and realty .NIFTYREAL stocks jumped on the government's plans to boost consumption by cutting personal taxes, while capex concerns dampened industrials and infrastructure stocks.

Market reactions in these sectors will remain in focus on Monday.

The Nifty and Sensex are trading nearly 11% and 10% below the record-high levels hit on Sept. 27, pressured by a moderate earnings season, economic slowdown and persistent foreign selling.

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