The domestic market could be opened on Thursday with a negative note from Flattish. 23,500 Gift Nifty shows the slightest loss opened for Nifty. Global stocks are offering a negative queue as most stocks across the Asia-Pacific region have fallen by about 0.50% during the US President’s tariff talks. With the NSE’s March agreement expires today, analysts expect the hand-picked stocks and sectors to see an increase in volatility.
Despite purchases by foreign portfolio investors, sentiment remains downbeat due to global uncertainty. Analysts say profit bookings are available in the middle and small spaces.
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US President Donald Trump announced a sweeping plan on Wednesday to impose a 25% tariff on all vehicles imported into the US, declaring the measure to be permanent. With collections beginning on April 3rd, customs duties will come into effect on April 2nd. “Uncertainty about US tariffs has been a massive concern as investors remained cautious ahead of President Donald Trump’s tariff announcement scheduled for April 2, and could affect India’s exports, particularly in the IT and pharmastically sector.”
Analysts say the market remains volatile due to global sentiment, accompanied by lack of domestic clues.
Emkay Global Research said in its mid-week strategy report that it had recovered smartly from its lowest of 21,964 (March 4, 2025) after the assessment touched the rock bottom. The FPI flow has begun to reverse. “Currently, the focus will shift to the announcement of the mutual tax next week, which we believe will have little impact, but in the short term it could hurt the valuation. In the long term, the sustainability of the market momentum will depend on revenue forecasts for fiscal year 2026 (14% whimsical EPSG) that will be held until the acquisition season on April 25th,” he added.
However, the derivative shows a neutral trend.
“We’ve been working hard to get the most out of our lives,” said Hardik Matalia, Choice Broking at Derivatives Analyst. This suggests a decline in uncertainty, with traders showing confidence in the market stability, he said, adding that open interest (OI) data shows the highest OI on the call side at strike prices of 23,600 and 23,700, highlighting a strong resistance level. On the putt side, the OI concentrates at a strike price of 23,300, marking it as the main level of support.
