Mumbai (Maharashtra) [India], April 8 (ANI): Indian stock indices opened higher Tuesday after a bloodbath on Monday.
At the opening bell, the BSE Sensex was at 74,331.00, up 1,193.10 points or 1.63 per cent while the Nifty 50 at National Stock Exchange (NSE) was up 385.50 points or 1.74 per cent at 22,547.10.
All the sectoral indices opened in green, exhibiting strong investor’s sentiment a day after the market fell significantly due to the tariffs imposed on India by the Donald Trump-led US administration.
The major gainers at NSE were Titan Company, Tata Steel, Hindalco Industries, Tata Motors, Shriram Finance. On the BSE, Midcap and Smallcap indices were up 2 per cent each.
Observing the markets, Akshay Chinchalkar, Head of Research at Axis Securities said, “The Nifty suffered its biggest fall for the year yesterday, but the over 400 point recovery at close was encouraging for bulls. The rebound resulted in a bullish belt-hold line formation with the 22572-22685, the next upside hurdle area. On the downside, the 22015-22130 area is critical.”
On Monday, Indian stocks witnessed a bloodbath like situation reflecting growing fears over the impact of tariffs on global trade and economic growth.
According to the experts, investors are worried that global trade could slow down significantly, affecting corporate earnings and economic growth worldwide.
The market reaction reflects growing concerns among investors about the future of international trade and the health of global economy.
In the early trade, the Sensex dropped 5 per cent lower at one point, but as the day progressed, it pared some of the losses and closed 3 per cent lower.
In keeping with the turmoil in global markets following President Donald Trump’s tariff decisions, the US markets also witnessed a bloodbath as they opened on Monday morning.
Trump’s reciprocal tariffs have led to a broad-based fall in financial markets globally with markets plunging in Asia as well as Europe. The reciprocal tariffs have set off a sell-off in equities globally, and the US is no exception. Investors fear that the moves concerning global trade may raise inflation, risking economic growth.
As per the experts, going ahead, global data and earnings season ahead will guide the markets. (ANI)
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