In today’s episode of "Indian Market in Minutes," we dive into the global impact of US tariff hikes and how the Indian markets reacted with bullish momentum, focusing on Nifty’s positive close and key stock picks for the day.
Detailed Description:
Join Shivangi Sarda from the Motilal Oswal Research Desk as she breaks down the latest updates affecting the Indian stock market. The US has imposed steep tariffs on multiple countries, including India, with electronics facing a 15.6% tariff and gems and jewellery an 11.5% tariff. However, the pharmaceutical sector remains unaffected, offering some relief.
Shivangi also discusses how Nifty opened positive and closed strong, forming a bullish candle on the daily frame with gains of around 170 points, closing near the higher band at 23350. Option data suggests a broader range between 22800 to 23800 zones, with an immediate range between 23100 to 23500. Meanwhile, Bank Nifty’s bounce and support levels are highlighted, along with FII and DII trading volumes.
The episode wraps up with stock recommendations:
- Positive Momentum: Kalyan Jewellers, Tata Consumer, Godrej Properties, BPCL, and more.
- Weakness Indicators: BEL, M&M Finance, RBL Bank, and Ultratech Cement, among others.
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[00:00:00] Welcome to Indian Market in Minutes from Motilal Oswal Research Dev. 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] The market is expected to open significantly lower due to a broad decline in the global markets. Market expectations were that the tariffs would range from 10 to 15% but the actual tariffs imposed by the US were much steeper, with most countries from Vietnam to Venezuela facing US reciprocal tariffs between 15% and 50%.
[00:00:49] In India, the US has imposed a 15.6% tariff on electronics and 11.5% on gems and jewellery. On a positive note, India's pharmaceutical sector could benefit as Trump did not announce any specific tariffs for this industry. To start with our first segment for Thursday, 3rd April 2025, Nifty Index opened positive and gradually improved throughout the day.
[00:01:14] It remained range bound for most part of the day and was followed by strong buying in the last hour to touch 23,350 zones. It respected its support of 23,115 near its 50 daily exponential moving average and closed at its higher band with gains of around 170 points. It formed a bullish candle and an inside bar on the daily frame. India Wix was down by around 0.5% to 13.7 levels.
[00:01:43] Nifty put call ratio improved to 0.96. Option data suggests a broader trading range in between 22,800 to 23,800, while immediate range could be in between 23,100 to 23,500 marks. Moving on to the second segment in the equity cash market, FIIs were net sellers to the tune of 1,539 crores, while DIIs were buyers were 2,809 crores.
[00:02:12] FIIs, FIIs index long-shot ratio slightly increased to 32%. Going ahead with the index actionable, derivatives data and price setup suggest, if Nifty holds below 23,333 marks, then some pressure could be seen towards 23,000, while a hold about the same could see some up move towards 23,550 zone. Some volatile and cures are going to continue for the expiry day point of view.
[00:02:40] That 50 has to hold above 51,000 for a bounce towards 52,000, while support can be seen at 50,750. And finally, talking about the sectors and stocks to watch out, positive setup can be seen in Kalyan Jewelers, Tata Consumer, Coatridge Properties, Indian Hotel, Camps, GMR Airports and BPCL.
[00:03:03] While some weakness could continue in RBL Bank, Ultratech Cement, ICICI Proof, Nalco, DARPA and Asian Bains. Wish you a super day ahead! Shivangi Sarada signing off. Follow this podcast for solid advice.
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