Indian equity indices opened Thursday’s trading session on a lower note taking note of US President Donald Trump’s tariff threats. The NSE Nifty 50 opened 98 points, or 0.43%, lower at 22,835, while the BSE Sensex fell 365 points, or 0.48%, to open at 75,574.57.
Bank Nifty opened 241 points or 0.49% lower at 49,329.25. The Nifty Midcap 100 declined 268 points, or 0.53%, to open at 50,259.15.
The GIFT Nifty indicated that the equity markets might open on a lower note. It was down 66 points, or 0.29%, at 22,894. During the pre-open session, the Nifty 50 was down 111.80 points, or 0.49%, at 22,821.10, while the Sensex was down 266 points, or 0.35%, at 75,672.84.
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“Trump’s tariff talks continue to impact markets. If this is implemented in early April as Trump declared, it will impact the US, too, through shortages and higher prices. It appears that Trump’s intention is to negotiate and extract concessions before tariffs are imposed. It remains to be seen how this will pan out,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. “A positive news is the RBI indicating growth recovery in H2 FY25. This bodes well for growth and earnings recovery in FY26. The market will start responding positively to the high-frequency data indicating growth recovery.”
“The market has to get out of the 22700 – 23300 zone for any real trend to begin until this churn is likely to continue,” said Akshay Chinchalkar, Head of Research at Axis Securities.
Dr Reddy’s Lab, TCS, Infosys, Hindustan Unilever, and Adani Enterprises were the significant losers in the Nifty 50. On the other hand, BEL, Hindalco, Eicher Motors, Axis Bank, and L&T were the top gainers in the Nifty 50.
However, on February 20, the market breadth remained in favour of the bulls as out of 2,879 stocks traded, 2,025 stocks were trading in the green while 800 declined, as per the data on NSE.
Among the sectoral indices, the Nifty Metal and Oil & Gas indices were the only ones to trade in the green.
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