Sensex, Nifty face selling pressure amid global uncertainty

The domestic equity benchmark indices closed nearly flat in a rangebound session on Friday as investor sentiment remained cautious after U.S. President Donald Trump deferred tariff imposition on Canada and Mexico to April 2, according to information. At close, the Sensex was down 7.51 points or 0.01 percent at 74,332.58, and the Nifty was up 7.80 points or 0.03 percent at 22,552.50.
Reliance Industries, Nestle, Bajaj Auto, Bharat Electronics, Hindalco were the top gainers on the Nifty, while losers included IndusInd Bank, NTPC, Shriram Finance, Infosys, HCL Technologies.
BSE Midcap index was down 0.3 percent, while Smallcap index was up 0.7 percent. On the sectoral front, Consumer Durables, IT, Power, realty down 0.5-1 percent, while Capital Goods, Energy, Metal, Media up 0.5-2 percent, according to sources.For the week, BSE Sensex added 1.5 percent and Nifty jumped 2 percent.

Market This Week
●Market turns positive, reports biggest weekly gain of 2025,
●Nifty snaps 3-week losing streak, up nearly 2 percent for the week,
●Nifty Bank records gain but relatively underperforms, up 0.4 percent,
●Big move in broader markets helps midcap index surge nearly 3 percent,
●All sectoral indices see gains this week, Metal & PSU top gaining indices.
Rupee Close:
On 7 March'25,the Indian rupee appreciated 20 paise to close at 86.92 against US dollar on Friday,as the American currency index declined to its five-month-low and crude oil prices eased on lower demand expectations.
Volatile domestic equity market sentiment and uninterrupted outflow of foreign capital, however, weighed on the domestic currency, forex traders reportedly stated, attributing foreign investors' outflow to increased risk aversion due to tariff ambiguity worldwide.
Expert Outlook:
Vinod Nair, Head of Research, Geojit Financial Services reportedly quoted as saying,the global market is experiencing a heightened uncertainty due to US tariff impositions and counter threats from its peers. This ambiguity has led to increased risk aversion and diminished appeal of equities. EMs have been particularly affected, experiencing significant outflows. Lately, S&P 500 index is showing signs of a deeper correction, reflecting concerns about the potential impact of tariffs on the US economy.
In contrast, Indian markets have demonstrated resilience off late despite looming trade war. While a recovery in corporate earnings could significantly improve the domestic sentiments. Investors could go overweight on large caps given stability in earnings and increasing valuation comfort.

(Business Correspondent)