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India Powers Ahead: BPCL-Sembcorp JV & Vodafone’s Massive Equity Move

India Powers Ahead: BPCL-Sembcorp JV & Vodafone’s Massive Equity Move

Welcome to Markets Daily by Bajaj Broking, where we bring you the latest market updates, trends, and expert insights to help you stay ahead of the curve. Don’t forget to check out our Morning Podcast for more updates! 

Also Read:  Stock Market Live Updates

Indian Equities Slide Amid Global Sentiment, RBI Rate Cut Impact

Global Market Recap – April 8

Global markets came under pressure yesterday, as escalating trade tensions rattled investor sentiment. The Trump administration announced a steep 50% tariff on Chinese imports, bringing total levies to 104%. This triggered a broad selloff across US equities:

  • Nasdaq: ↓ 2.2%

  • S&P 500: ↓ 1.6%

  • Dow Jones: ↓ 0.8%

All US sectors ended in red, led by materials. Meanwhile:

  • US Treasury yields surged

  • The Dollar Index hovered above 102

  • Crude oil plunged to multi-year lows

  • Gold and silver saw modest gains

Also Read:  BPCL and Sembcorp Join Forces to Drive Green Hydrogen Projects in India

Asian indices mirrored the bearish trend:

  • Nikkei dropped 3.6%

  • KOSPI fell 0.8%

  • ASX 200 slipped 2%

VODAFONE IDEA LIMITED

Trade

7.12-0.11 (-1.51 %)

Updated - 30 April 2025
7.29day high
DAY HIGH
7.10day low
DAY LOW
395244551
VOLUME (BSE)

India Shines Amid Global Weakness

Despite global volatility, Indian markets rebounded strongly on April 8, supported by optimism ahead of the RBI’s monetary policy decision. The Sensex rallied 1,089 points (1.49%) to close at 74,227, while the Nifty gained 374 points (1.69%), ending at 22,536.

All 13 sectoral indices were in the green, with gains of around 2% across the board, indicating broad-based buying. The India VIX, often seen as the market’s fear gauge, dropped over 10% to near 20, easing concerns after the prior session’s sharp spike. Gift Nifty is currently indicating a slightly negative bias, with a likely trading range between 21,900 and 22,800.

Also Read:  Vodafone Idea Allots Rs.36,950 Cr Shares to Govt; Stake Hits 48.99%

Nifty Technical Outlook (Short-Term)

  • Nifty formed a bull candle with long wicks on both sides – a sign of intraday volatility ahead of RBI’s decision.

  • Key support lies between 21,750 and 21,800, which includes Monday’s panic low and the 24-month EMA.

  • Key resistance is around 22,900, the level from Monday’s gap down.

  • A break below 21,750 could lead to a further decline towards 21,300 (election outcome day low).

  • However, sustaining above 22,250 could drive the index back toward 22,900 in the coming sessions.

Intraday Levels for Nifty:

  • Resistance: 22,700 & 22,830

  • Support: 22,250 & 22,030

Intraday Levels for Bank Nifty:

  • Resistance: 50,690 & 51,000

  • Support: 50,000 & 49,700

Also Read:  Top Indian Railway Stocks in India as per Market Cap

Key Developments to Watch

1️⃣ BPCL-Sembcorp JV

BPCL and Sembcorp announced a 50:50 green hydrogen & renewable energy joint venture—an important step towards India's clean energy goals.

2️⃣ Vodafone Idea’s Strategic Move

Vodafone Idea allotted ₹36,950 crore in shares to the Government of India, raising its stake to 48.99%, while promoters maintain control.

3️⃣ FII-DII Flow

  • FIIs sold ₹4,994 crore

  • DIIs bought ₹3,097 crore
    DII inflows continue to cushion the impact of FII selling.

Global Snapshot

US Indices – April 8

  • Nasdaq: 15,268 ↓ 2.2%

  • S&P 500: 4,983 ↓ 1.6%

  • Dow Jones: 37,646 ↓ 0.8%

Trump’s Trade Stance:
The announcement of 104% total tariffs on China, including 24% on Japanese goods and 25% on car imports, has sparked concern globally. Trump also mentioned that Japan is sending a trade negotiation team.

Other Asset Movements:

  • 10-Year US Treasury Yield: 4.29% (↑ 13.4 bps)

  • Dollar Index: >102

  • Gold/Silver: Modest gains

  • Oil: Multi-year lows

Option Chain Insights

According to current option data, Nifty is likely to trade between 22,500 and 23,000, while Bank Nifty may remain in the 50,000–51,000 range.

A more detailed breakdown of open interest levels, key strikes, and institutional activity is available in our full option chain report—be sure to check it out for data-driven insights to guide your trading decisions.

Also Read:  Top Infrastructure Stocks in India as per Market Cap

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Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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