Indian markets stay resilient amid Trump Tariff jolt

Weighed by global trade concerns, the Indian share market indices closed on a lower note on Thursday, with the Nifty settling near 23,250 after the U.S. announced new tariffs. At close, the Sensex was down 322.08 points or 0.42 percent at 76,295.36, and the Nifty was down 82.25 points or 0.35 percent at 23,250.10. About 2724 shares advanced, 1119 shares declined, and 132 shares unchanged.
Power Grid Corp, Sun Pharma, UltraTech Cement, Cipla, Shriram Finance were the top gainers on the Nifty, while losers included TCS, HCL Technologies, Tech Mahindra, Infosys, ONGC.On the sectoral front, IT index shed 4 percent, auto index slipped 1 percent, while pharma index added 2 percent, PSU Bank index rose 1.9 percent, power index jumped 1.8 percent.BSE Midcap index was up 0.3 percent and smallcap index was up 0.7 percent, according to information.
Rupee Close:
On 03 April'25,the Indian rupee appreciated by 7 paise to close at 85.44 against the US dollar on Thursday,supported by a weaker dollar index and lower oil prices amid concerns that the latest U.S. tariffs could impact its own economy.
Trading Guide:
Vinod Nair, Head of Research, Geojit Investments reportedly quoted as saying,the domestic market initially showed signs of recovery but ended with modest losses after the announcement of a relatively lower 26% tariff on US imports. The IT and auto sectors experienced selling pressure due to US slowdown concerns and disruptions in the supply chain. Conversely, pharmaceutical stocks benefited from being exempt from the tariffs. Nonetheless, robust domestic macroeconomic data and lower crude oil prices aided the broader market performance. Although the tariff presents short-term challenges, India's economic resilience and bilateral trade agreement may help mitigate the overall impact.

(Business Correspondent)