In today’s episode of Indian Market in Minutes with Motilal Oswal we dive deep into the global market turmoil triggered by escalating US trade tariffs, leading to fears of a global recession. This sharp market decline has impacted global indices, with the US experiencing its biggest drop since 2020. What does this mean for Indian markets, particularly the Nifty index? Let’s explore what happened overnight and what to expect as the market opens today.
On the domestic front, Nifty opened lower but managed to hold above key support zones, showing resilience despite global headwinds. We also discuss market movements, with Nifty consolidating between 23150 and 23300 zones. Despite forming a bullish candle, the index struggles to break through key resistance levels.
Follow for daily updates and solid trading advice.
[00:00:00] Welcome to Indian Market in Minutes from Motilal Oswal Research Desk. We will be covering technical and derivatives, SII's activity, index, actionable sectors and stocks to watch out. So stay tuned till the end. Hey, this is your host Shivangi Sarda and let's look at what happened globally.
[00:00:26] Market is expected to open on a marginally lower note due to a sharp decline across global markets, triggered by US President Donald Trump's trade tariff escalation. The higher-than-expected reciprocal tariffs have fuelled recession fears and raised concerns that a steep increase in the US tariffs will hurt global economic growth.
[00:00:46] Overnight, the US markets experienced their biggest drops in 2020 with declines of around 6% as investors reacted to the potential for global retaliation from Trump's new tariff plan. To start with our first segment for Friday, 4th April 2025, Nifty index opened negative on account of weaker global markets but managed to hold above 23,150 and witnessed a sharp up move in the first tick.
[00:01:15] However, it faced lackluster move near 23,300 zones and consolidated with a narrow band of 50-60 points for the rest of the day to close with marginal losses of around 80 points. It formed a bullish candle on the daily frame but has been making lower highs from the last three trading sessions which indicates that even though support-based buying is respected but lack of follow-up is making the upside cap.
[00:01:41] India Wix was down by around 1% to 13.6 levels. Nifty put-call ratio increased to 1.12. Option data suggests a broader trading range in between 22,700 to 23,700 zones while immediate trade is in between 23,100 to 23,500 levels.
[00:02:03] Moving on to the second segment in the equity cash market, FIIs were net sellers to the tune of 2,806 crores while DIIs of buyers were 2,21 crores. FII's index long-shot ratio decreased to 30%.
[00:02:20] Going ahead with the index actionable, Derivatives data and price set-up suggest, till the time Nifty holds near about 23,250 then some strength could be seen towards 23,550 whereas supports are placed at 23,000 levels. Bank Nifty has to hold above 51,250 for the next up move towards 52,000 while support can be seen at 51,000.
[00:02:47] And finally talking about the sectors and stocks to watch out, positive setup can be seen in IDFC First Bank, AU Bank, Indian Bank, Injil-One, Ultratech Cement, Sipla and Sinji. While some weakness could be seen in Persistent System, KPIT Tech, Emphasis, Infosys, TechM, HCL Tech and Sonar Comms. Wish you a super day and a lovely weekend ahead.
[00:03:14] Shivangi Sarada signing off. Follow this podcast for solid advice. Investment and securities market are subject to market risk. Read all the related documents carefully before investing.