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Global markets plunged after U.S. President Donald Trump announced sweeping tariffs—10% on all imports and up to 49% for select countries like China and the EU—sparking fears of inflation and retaliation. U.S. futures fell sharply, Asian markets opened deep in the red, and safe-haven assets like gold soared to record highs.
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Indian indices had ended strong on April 2, but Gift Nifty indicates a gap-down opening amid global trade tensions. Despite volatility, Nifty’s structure remains positive, and analysts suggest staggered buying near key support zones. Eyes now turn to Q4 earnings and the upcoming RBI policy meeting.
Bharat Electronics Secures ₹593.22 Crore Contract with Indian Air ForceBharat Electronics Limited (BEL) has signed a contract worth ₹593.22 crore with the Indian Air Force to provide maintenance services for the Akash Missile System, underscoring its pivotal role in India's defense sector.
Kirloskar Oil Engines Lands ₹270 Crore Deal with Defence MinistryKirloskar Oil Engines Limited has inked a ₹270 crore agreement with the Defence Ministry for the design and development of a 6MW medium-speed marine diesel engine, aiming to bolster indigenous defense manufacturing capabilities.
Also Read: RBI To Inject Rs.80,000 Crore Liquidity Through OMO Purchases in April
FIIs: Net sellers, offloading equities worth ₹1,538.88 crore.
DIIs: Net buyers, acquiring ₹2,808.83 crore worth of equities.
Indian equity indices wrapped up the session on a strong note, with Nifty closing above the 23,300 mark.
Sensex: +593 points (0.78%) at 76,617.44
Nifty: +166 points (0.72%) at 23,332.35 All sectoral indices closed in the green, with FMCG, Consumer Durables, and Realty leading the charge, posting gains of 1-3%.
The BSE Midcap & Smallcap indices also exhibited robust momentum, climbing nearly 1% each.
Also Read: BSE Board Approves 2:1 Bonus Issue; Stock Jumps Over 16% to Rs 5,438
Indian markets are poised to respond to reciprocal tariffs and the global market reaction, setting the tone for investor sentiment. The upcoming weekly derivatives expiry will likely inject additional volatility into the trading landscape. Post-tariff-related volatility, investor focus will shift towards the much-anticipated Q4 earnings season and the pivotal RBI monetary policy announcement next week—both poised to act as critical drivers of market trajectory.
Nifty Technical Outlook
Nifty snapped a two-session decline, closing above 23,300.
Formed a bull candle within the previous session’s range, indicating consolidation.
A shallow retracement signals an overall favorable price structure.
Key support zones: 22,700-23,000
Expected trading range: 23,000-23,800
Intraday Levels:
Resistance: 23,340 & 23,450
Support: 22,950 & 22,800
Bank Nifty Technical Outlook
Intraday Levels:
Resistance: 51,350 & 51,500
Support: 50,300 & 50,000
U.S. stock index futures tumbled sharply after Trump’s tariff announcement.
S&P 500 Futures: -3.6%
Nasdaq 100 Futures: -4.5%
Dow Futures: -2.5%
Asia-Pacific markets also plunged:
Japan Nikkei 225: -3.02%
Topix Index: -3.19%
South Korea Kospi: -1.57%
Kosdaq: -0.55%
Also Read: Government Converts Vi Dues Into Equity; Stake Rises To 49 Percent
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