Dear Trader…
Markets ended slightly lower on the weekly expiry
day, largely weighed down by weak global cues. The Nifty future index opened
lower in response to the US tariff announcements but saw some recovery due to
resilience in select heavyweight stocks. This helped trim losses in early
trades, leading to a range-bound session before closing at 23,325.95. Sectoral
trends remained mixed, keeping traders engaged—pharma and banking, particularly
PSU banks, outperformed, while IT and auto sectors lagged. Broader markets,
however, maintained their strength, with both midcap and smallcap indices closing
in the green.
The market’s measured response to the US tariffs
reflects expectations of ongoing trade discussions between India and the US, as
well as the possibility of higher tariffs impacting other countries more
significantly, limiting the impact on Indian exports.
From a technical perspective, traders should
closely monitor the 20-day exponential moving average (DEMA) at 23,100. A break
below this level could intensify selling pressure, potentially dragging the
index toward 22,800. Conversely, holding above this level would likely sustain
the range-bound movement. Amidst this consolidation, selective pockets across
sectors are showing strength. Until a clear directional move emerges, the focus
should remain on stock-specific opportunities.”
Nifty futures opened at 23215 points against the
previous close of 23438 and opened at a low of 23215 points. Nifty Future
closed with an average movement of 196 points and a decline of around 113 points
and 23325 points…!!
On the NSE, the midcap 100 index will rise 0.21%
and smallcap 100 index is closing rise 0.58%. Speaking of various sectoral
indices only IT, Metal, Auto, Oil and Gas and Realty stocks were seen selling
on the NSE, while all other sectoral indices closed higher.
At
the start of intra-day trading, April gold opened at Rs.91230, fell from a high
of Rs.91423 points to a low of Rs.89470 with a decline of 1099 points, a trend
of around Rs.89629 and May Silver opened at Rs.99658, fell from a high of Rs.99658
points to a low of Rs.95302 with a decline of 4452 points, a trend of around
Rs.95301.
Meanwhile,
The US President Donald Trump’s move to impose sweeping new tariffs targeting
multiple nations has rattled the global markets. However, with key details yet
to be disclosed, the full impact remains uncertain, requiring a wait-and-watch
approach. Notably, critical sectors like power equipment energy and
pharmaceuticals, which are vital to India’s economic growth, have been
exempted.
Most
estment that the impact of US tariff reciprocity on Indian exports would be
relatively limited, with an estimated decline of around 3 to 3.5%, and India’s
strategic focus on export diversification, value addition, and tapping into
alternative markets -along with the development of new trade corridors from
Europe to the US via the Middle East-will help mitigate some effects of these
new tariffs.
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