- Nifty 50 opened at 23,190.40, down 59.70 points (–0.26%)
- Sensex opened at 76,160.09, down 135.27 points (–0.18%)
- Indian markets outperforming Asian peers despite global uncertainty
- U.S. tariffs spark fears of a global trade war and recession
- Eyes now on RBI’s rate decision (April 9) and earnings season kickoff next week
🌍 Global Markets Under Pressure
The markets opened in the red on Friday, marking the second day of pressure after U.S. President Donald Trump announced new tariffs under the “U.S. Liberation Day” campaign—viewed as a protectionist push with severe global implications.
📉 Asian Indices Crash:
- Japan’s Nikkei 225: –3%
- Singapore’s Straits Times Index: –3%
- South Korea’s KOSPI: –1.45%
📉 U.S. Sell-Off:
- S&P 500: –4.84%
- Nasdaq: –5.97%
- U.S. Dollar Index (DXY): –2% (largest drop since 2005)
💬 Ajay Bagga, market analyst, called the tariffs “damaging to sentiment” and warned of demand destruction due to inflationary pressure and reduced consumer choice.
🏦 India’s Relative Resilience
Despite the global carnage, Indian markets showed comparative strength, thanks to strong performances in banking and pharma sectors:
📈 Top Nifty Gainers:
- HDFC Bank
- Bajaj Finance
- Zomato
📉 Top Nifty Losers:
- Infosys
- TCS
- Hindalco
- ONGC
- Tata Motors
Nifty IT took the hardest hit, falling 1.53%, followed by Nifty Metal (–0.76%) and Nifty Auto (–0.39%).
The market holiday on April 10 has shifted weekly options expiry to Wednesday, making today’s trading session crucial due to accelerated time decay in premiums.
🔮 What Lies Ahead
📌 RBI’s Monetary Policy on April 9 – Potential rate guidance or stance on inflation and growth will be pivotal.
📌 Earnings Season Kickoff Next Week – Expected to guide near-term stock movement and investor sentiment.
🛢️ Commodities Check:
- Oil prices down as OPEC+ increases supply in a surplus market
- Silver plunges 6%, Copper down 3%
- Fitch downgrades China’s sovereign rating to ‘A’, citing fiscal pressures and trade war impact
⚠️ Summary
While global markets are caught in a tariff-fueled storm, India’s equity benchmarks are holding up better, showing short-term resilience. However, volatility remains high, and much hinges on the RBI policy outcome and Q4 earnings performance.
Watch this space for real-time updates on the RBI policy meeting, key earnings results, and geopolitical developments impacting the markets.