Stock Market Updates: Sensex Opens 570 Points Lower, Nifty At 23,370; Financials, IT Drag – News18
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Key benchmark equity indices BSE Sensex and Nifty50 were lower at open on Tuesday; Key points for investors
Stock Market Today
Sensex Today: Key benchmark equity indices BSE Sensex and Nifty50 were lower at open on Tuesday, as investors awaited clarity regarding reciprocal tariffs set to be levied from April 2.
At opening bell, the BSE Sensex was lower by 572.15 points, or 0.74 per cent, at 76,842.77, and the Nifty50 was at 23,368.10, behind by 151.25 points, or 0.64 per cent.
According to Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Intermediates, from a technical perspective, Nifty respected the 100-Days Exponential Moving Average (100-DEMA) support near 23,400 and formed a red candle on the daily chart on Friday’s sessions. However, on the weekly scale, the index formed a doji candle, indicating uncertainty.
“The index continues to face resistance in the 23,800–23,810 zone, and a decisive move above 23,810 could extend the rally towards 24,000–24,080, where the 200-Day Simple Moving Average (200-DSMA) is positioned. On the flip side, sustaining below 23,400 could lead to further weakness towards 23,200-23,000 levels. Traders should monitor these levels for potential trading opportunities,” he said.
Market View | Dr. VK Vijayakumar, chief investment strategist, Geojit Investments Limited
Globally markets are focused on the details of Trump’s reciprocal tariffs to be announced tomorrow. The market trends after the announcements will depend on the details of the tariffs and how they will impact different countries and sectors.
India outperformed most markets in March with a 6.3 per cent return. FIIs turning buyers and the consequent short covering contributed to the rally. Can the rally continue, or will there be another downturn? This will depend mainly on what Trump announces in tariffs. If the tariffs are lower than feared, there can be a rally in the market, which will be led by externally linked sectors like pharmaceuticals and IT. On the other hand, if the tariffs are severe, there can be another round of downturn in the market. Investors can wait and watch, and respond after the details are known.
Global Cues
Australian shares gained almost 1% on Tuesday, driven by solid performances from major banks and miners, as traders anxiously awaited the central bank’s expected decision to keep interest rates unchanged later in the day. As of 2332 GMT, the S&P/ASX 200 index had risen by 0.8% to 7,904.7 points, recovering from a 1.7% decline in the previous session.
As of 10:12 a.m. Tokyo time, S&P 500 futures were down by 0.5%, while Japan’s Topix saw a rise of 0.7%. In Australia, the S&P/ASX 200 gained 0.4%, and Euro Stoxx 50 futures were up by 0.2%.
