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Global equities were hit by turbulence as renewed US-China trade tensions sparked a sell-off across major indices. President Trump’s decision to hike tariffs on Chinese goods to 145% led to a steep drop in US markets—Nasdaq fell 4.3% and the S&P 500 dropped 3.5%, wiping out previous gains.
In contrast, European markets held back on retaliatory measures, banking on a diplomatic resolution. Meanwhile, US consumer inflation data surprised the markets with a decline—the first since May 2020.
Asian equities mirrored Wall Street’s slide. Japan’s Nikkei 225 plunged 5.46%, leading regional losses, followed by a 1.55% dip in South Korea’s Kospi. Hong Kong futures signaled a lower open.
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Despite a dovish 25 bps rate cut by the RBI, Indian markets fell under global pressure.
Sensex closed at 73,847.15, down 379.93 points (-0.51%)
Nifty ended at 22,399.15, down 136.70 points (-0.61%)
BSE Midcap: -0.8% | Smallcap: -1%
Sectors were largely negative, except:
FMCG: +1.5%
Consumer Durables: +0.3%
Major laggards: Realty, IT, and PSU Banks—each down around 2%.
Also Read: Tata Motors’ JLR India Achieves Record Sales in FY25 at 6,183 Units
RBI Update
The central bank shifted its stance from neutral to accommodative, bringing the repo rate to 6%, aligning with market expectations.
JLR India Posts Record Sales
Tata Motors ’ JLR India hit a historic high with FY25 sales of 6,183 units, a 40% YoY jump, driven by strong demand for Defender and Range Rover.
SRF Commissions ₹239 Cr Agrochemical Plant
The new facility in Dahej, Gujarat, marks the completion of SRF’s approved expansion.
IndiGo Becomes World’s Most Valuable Airline
FIIs vs DIIs
FIIs net sold ₹4,358 crore
DIIs supported with ₹2,976 crore in net equity purchases
Also Read: SRF Ltd. Commissions New Agrochemical Unit in Dahej Worth Rs.239 Crore
With the US announcing a 90-day pause on tariffs (excluding China), global cues turned mildly positive, and Gift Nifty hints at a gap-up open.
Key Technical Levels
Nifty
Support: 22,390 & 22,270
Resistance: 22,950 & 23,130
Sustaining above the bullish gap near 22,250 keeps the pullback trend intact. If Nifty crosses the 22,900–23,000 zone, it could open up a move toward 23,250–23,550 in the coming sessions.
Bank Nifty
Support: 50,200 & 49,910
Resistance: 51,500 & 51,900
Volatility is likely to stay elevated with trade tension headlines, India’s inflation data, and Q4 earnings season all in play.
US Markets
Nasdaq: -4.3%
S&P 500: -3.5%
Triggered by tariff hikes and surprise negative inflation data.
Asian Markets
Nikkei 225: -5.46%
Topix: -5.05%
Kospi: -1.55%
Kosdaq: -0.11%
Hang Seng futures: Pointing lower
Also Read: RBI Monetary Policy April 2025: Key Expectations
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