Mumbai (Maharashtra) [India]: The Indian stock market opened on a positive note on Monday, with both benchmark indices gaining momentum. The BSE Sensex surged 290.59 points, opening at 74,138.49, while the NSE Nifty climbed 82.35 points to start the session at 22,479.55.
Top Gainers and Losers
Among the Nifty-listed companies:
✅ Top Gainers: IndusInd Bank, SBI Life, Bajaj Finserv, Tata Motors, and Larsen & Toubro
❌ Top Losers: Infosys, HCL Tech, Wipro, BPCL, and Britannia
Market Sentiment and Global Cues
The upbeat opening comes despite mixed global signals. Banking and market expert Ajay Bagga pointed out that China’s recent measures to boost domestic consumption met with a lukewarm response. However, positive data from China’s industrial growth and retail sales in early 2025 provided some optimism to Asian markets.
Bagga also highlighted concerns over global economic stability, especially regarding potential policy shifts in the US under “Trump 2.0”.
“The US Fed FOMC meet will be the key policy meeting this week. We expect the Fed to remain on hold, citing the uncertainty around Trump 2.0 policy. The key statement to watch from a data-dependent Fed will be if it sees the balance shifting to shoring up slowing growth rather than containing inflation,” said Bagga.
He further mentioned that Fed futures suggest up to three rate cuts in 2025, which markets will closely monitor.
Upcoming Tariff Concerns
A key risk factor is the anticipated Reciprocal Tariffs announcement by Donald Trump on April 2nd. Bagga warned that unless India successfully negotiates a postponement or exemption on critical export items, markets may face turbulence.
“Expect volatility leading up to April 2nd. While FPI sales intensity has been waning, past trends suggest that this might not necessarily indicate stability,” Bagga cautioned.
Commodities Market Update
- Gold briefly crossed the USD 3,000 mark before settling slightly lower.
- Oil Prices rose following U.S. airstrikes on Yemen-based Houthi strongholds.
- The metals market is closely tracking China’s ongoing stimulus policies.
Outlook for Investors
Despite the positive start in Indian markets, analysts recommend caution due to global economic uncertainty. The upcoming Federal Reserve meeting and potential trade policy changes are expected to fuel volatility.
On a positive note, India’s steady FII inflows in FY24 and ongoing free trade negotiations with the UK, Canada, and the EU are seen as positive signs for the nation’s long-term economic resilience.