Indian stock markets opened with marginal gains as banking and IT stocks led the rally. Investors await the US tariff announcement, which could impact trade and Indian exporters
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Indian stock markets opened on a positive note on Wednesday, registering marginal gains driven by banking and IT sector stocks. Market participants are keenly awaiting the scheduled announcement of US tariffs later today, a development that is expected to have significant implications for global trade and Indian exporters, according to ANI.
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At the opening bell, the benchmark indices showed a modest upward movement. The BSE Sensex stood at 76,136.09, marking a gain of 111.58 points or 0.15 per cent, while the NSE Nifty recorded an increase of 30.50 points or 0.13 per cent to reach 23,196.20, as per ANI.
According to ANI reports, major gainers at the National Stock Exchange (NSE) included Tata Consumer, Trent, Tech Mahindra, Zomato, and ONGC. Meanwhile, stocks of HUL, HCL Technologies, Dr Reddy’s Laboratories, NTPC, and Reliance Industries were among the major losers during the early trade session.
Market expert Ajay Bagga observed that while it is ‘Liberation Day,’ the uncertainty surrounding global trade policies remains intact. “Liberation Day will not liberate the markets from uncertainty, rollbacks, retaliations, and the spectre of a full-blown trade war. T-Day is not victory from uncertainty day,” he remarked.
Bagga further stated that the markets have drawn a line in estimating the potential impact of US tariff impositions and are presently adopting a ‘wait and watch’ approach. “India is also set to face 20 per cent tariffs under the US policy and will have to negotiate a phased agreement over the coming months. The damage to Indian exporters has already begun, so further declines should be limited. However, we are not making any risky bets at this stage and are instead conserving capital,” he added, as per ANI.
Meanwhile, Akshay Chinchalkar, Head of Research at Axis Securities, shared his technical perspective on the markets, stating, “Yesterday’s drop in the Nifty has weakened the tactical bull case that began at 21,964 but has not negated it entirely. For the day, key support lies within the 23,090 – 23,141 zone, with a possible downside extension in the 22,800 – 22,900 range. This level serves as a long-term threshold between bullish and bearish trends. The 50-day moving average is stabilising near 23,000, making it another crucial support level. Bulls will regain dominance only if the index moves above 23,565.”
As per ANI reports, experts believe the market will continue to experience pressure until further clarity emerges regarding the Trump administration’s tariff announcement. The decision is expected to significantly impact trade relations, especially for Indian businesses exporting to the United States.
(With inputs from ANI)
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