Indian Stock Market Update: Nifty 50 and Sensex Open Flat Amid Trump Tariff Concerns
The Indian stock markets opened flat on Tuesday amidst concerns over US President Donald Trump's new tariff measures. Investors are adopting a cautious approach and waiting for more clarity on the situation.
Indian Stock Market Update
The Indian stock markets opened with some pressure on Tuesday as worries regarding US President Donald Trump's new tariff measures came to the forefront. However, investors seem to have taken a cautious 'wait and watch' stance, looking for more clarity on the situation.
The domestic benchmark indices are currently trading flat. The Nifty 50 index started at 25,427.85, down 33.45 points or 0.13%, while the Sensex experienced a slight dip, opening at 83,387.03, down by 55.47 points or 0.07%. Experts note that the market's reaction was mild and not panicked, unlike the period from April 2nd to April 9th.
Market Analysis
In the last 90 days, the markets have shown increased resilience, moving past the uncertainties surrounding Trump's policies to focus on his actions. On the technical front, Sachin Gupta of 5Paisa believes Nifty 50's near term support and resistance to be at 25,180/25,000 and 25,600/25,740. Gupta recommends two stocks to buy in the near-term.
Overall Market Sentiment
The Nifty 50 index ended the session nearly flat to close at 25,461.3, as the market struggled to find direction. The overall market sentiment remained subdued, with 28 constituents declining and 22 advancing, indicating a cautious tone among investors. Most of the other indices ended in the red. Midcap and smallcap indices were marginally down. Sectorally too, apart from FMCG and Oil & Gas, others witnessed weak performance.
Technical Outlook
Nifty 50 started the week on an uncertain note as investors searched for a fresh set of triggers. The 20D EMA continues to offer support, and RSI is supportive of bullish momentum. Near-term support and resistance are at 25,180/25,000 and 25,600/25,740. Shares to buy or sell today on Tuesday - Sachin Gupta on shares to buy on Tuesday, recommends two stocks on Tuesday — Balrampur Chini Mills Ltd and Metropolis Healthcare Ltd.
Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.