Market Snapshot
- Equity markets closed lower on Thursday, with Sensex and Nifty ending in the red amid a sharp selloff in IT, auto, metal, and oil & gas stocks.
- The decline was triggered by the United States imposing a 27% reciprocal tariff on India, impacting investor sentiment.
- Banking, pharmaceutical, and broader market stocks provided some support, helping limit the downside.
- Domestic chemical manufacturers faced pressure, as the 27% tariff is expected to hurt exports and shrink profit margins.
- The sector, which had previously been paying a 3.5% import duty, now faces a significant cost burden, making exports less competitive.
Sectoral Trends
|
Sector Name |
% Change |
Sector Name |
% Change |
|
NIFTY PHARMA |
2.3 |
NIFTY CONSUMER DURABLES |
0.4 |
|
NIFTY HEALTHCARE INDEX |
2.0 |
NIFTY PRIVATE BANK |
0.3 |
|
NIFTY PSU BANK |
1.9 |
NIFTY FMCG |
0.2 |
|
NIFTY MEDIA |
1.1 |
NIFTY REALTY |
-0.1 |
Top News
- Metal stocks tumbled on April 3 as concerns grew over the impact of US President Trump’s 27% reciprocal tariffs, despite exemptions for steel, aluminum, and copper, raising fears of a wider trade conflict with China and the EU.
- Auto stocks, including Tata Motors and Hyundai, fell, as Trump announced a 25% tariff on all foreign-made automobiles, with Tata Motors’ JLR facing the biggest impact due to its significant exposure to the US market.
- Dabur India shares dropped over 7% after the company projected flat revenue growth for Q4 FY25, while inflation and operating deleverage were expected to contract profit margins by 150-175 basis points YoY.
Top Gainers and Losers
|
Top Gainers |
% Change |
Top Losers |
% Change |
|
POWERGRID |
4.6 |
TCS |
-4.0 |
|
SUNPHARMA |
3.4 |
HCLTECH |
-3.9 |
|
CIPLA |
3.3 |
TECHM |
-3.7 |
Technical Outlook: Key Indices
|
Indices Name |
Support |
Resistance |
|
Nifty |
22,800 |
23,500 |
|
Bank Nifty |
51,800 |
52,000 |
Trade Ideas Update
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