The benchmark BSE Sensex closed 117.77 points lower at 39,714.20 and the Nifty 50 was down 23.10 points at 11,922.80 on Friday, 31 May, reported Moneycontrol.Markets Surprised As Sitharaman Takes Charge of FinMinIndian investors were caught by surprise at the appointment of Nirmala Sitharaman as the Finance Minister on Friday. Sitharaman will also head the Corporate Affairs Ministry, reported IANS.Dalal Street was expecting the Finance portfolio to go to either Amit Shah, who has been given charge of the Home Ministry, or to Piyush Goyal, who has retained Railways and additionally has the Commerce portfolio.At 1.18 pm on Friday, the S&P BSE Sensex was trading at 39,726.44 after it had crossed the 40,000-mark during the early trade. The Nifty also slipped to 11,927.50 after it surpassed the 12,000 mark earlier in the day.A post-graduate in Economics, Sitharaman is familiar with the world of finance and economy. She has served as a junior minister responsible for both Finance and Corporate Affairs in the previous government and also as Commerce Minister before taking charge of the Defence Ministry during the later part of NDA 1.Opening TradesOn Friday, the benchmark BSE Sensex reclaimed the 40,000 mark, rallying nearly 300 points in early trade led by gains in banking and IT stocks amid positive domestic cues and strong foreign fund inflow.After hitting a high of 40,119.81, the 30-share index was trading 271.12 points, or 0.68 per cent, higher at 40,103.09.In similar movement, the broader NSE Nifty crossed the 12,000 level, and was trading 81.20 points, or 0.68 per cent, higher at 12,027.10.Global Markets Traded LowerGlobally, the markets traded lower in reaction to US President Donald Trump's threat to impose tariffs on Mexico."On June 10th, the United States will impose a 5 per cent tariff on all goods coming into our country from Mexico, until such time as illegal migrants coming through Mexico, and into our country, stop....the tariff will gradually increase until the Illegal Immigration problem is remedied,..," Trump said in a tweet.(With inputs from PTI, IANS and Moneycontrol) We'll get through this! Meanwhile, here's all you need to know about the Coronavirus outbreak to keep yourself safe, informed, and updated. The Quint is now available on Telegram & WhatsApp too, Click here to join.