The Indian market ended the week lower on Friday, weighed down by U.S. President Donald Trump's sweeping retaliatory tariffs, which escalated the global trade war and heightened fears of a recession.
The benchmark BSE Sensex declined 930.67 points or 1.22% to close at 75,364.69, while the broader Nifty 50 index closed at 22,904.45, down by 345.65 points or 1.49%.
Here's how analysts read the market pulse:
"The recent implementation of higher-than-anticipated U.S. tariffs has had a significant impact on global markets, triggering a bearish trend as investors assess the broader implications," said Vinod Nair, Head of Research at Geojit Investments, adding that the likelihood of retaliatory measures against the U.S. has further heightened uncertainty. U.S. bond yields and oil prices are trending downward, reflecting concerns over a potential economic slowdown and increased recessionary risks.
"Domestically, while the direct impact of these tariffs is relatively moderate compared to other major economies, it remains more substantial than initially projected. As Q4 approaches, a sequential improvement in corporate performance is anticipated. However, prevailing weak market sentiment suggests that the phase of consolidation may persist in the near term," added Nair.
US markets
Wall Street plunged for a second consecutive day on Friday, with the Nasdaq Composite entering a bear market and the Dow Jones Industrial Average falling into correction territory, as the intensifying global trade war triggered the steepest losses since the pandemic.
The Nasdaq tumbled 5.82%, the Dow dropped 5.50%, and the S&P 500 sank 5.97%.
European markets
European shares tumbled on Friday, with the benchmark STOXX 600 and Germany's DAX slipping into correction territory, as China's response to sweeping U.S. tariffs deepened fears of a global recession driven by the escalating trade war.
The pan-European STOXX 600 index closed down 5.1%, marking its sharpest daily decline since the COVID-19-driven selloff in 2020. The index has now fallen nearly 12% from its March 3 record close, confirming a correction.
Tech View
The Nifty has given a consolidation breakdown on the daily chart, indicating bearishness, with the index initially finding support at the crucial 22,900 level, said Rupak De, Senior Technical Analyst at LKP Securities, adding that sentiment remains weak, and a further decline from the current level could trigger additional market correction.
"On the lower end, if Nifty falls below 22,900, it may move toward 22,676. On the higher end, resistance is seen at 23,100. A move above 23,100 would provide a clear signal for a strong uptrend," said De.
Most active stocks in terms of turnover
HDFC Bank (₹3,059 crore), Reliance Industries Ltd (₹2,161 crore), BSE (₹2,109 crore), TCS (₹1,764 crore), Tata Motors (₹1,650 crore), Bajaj Finance (₹1,611 crore), and Coforge (₹1,576 crore) were among the most active stocks on BSE in value terms. Higher turnover in a counter typically indicates increased investor interest and trading activity.
Most active stocks in volume terms
Vodafone Idea (47.51 crore shares), YES Bank (11.12 crore), Tata Steel (8.08 crore), IDFC First Bank (5.59 crore), Suzlon Energy (5.18 crore), Zomato (4.82 crore), and Samvardhana Motherson International (4.15 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of Emami, Rainbow Children’s Medicare, Marico, InterGlobe Aviation, Sundaram Finance, Tata Consumer, and Max Financial Services were among the stocks that witnessed strong buying interest from market participants.
52-week highs and lows
Over 66 stocks hit their 52-week highs on Friday, while 89 stocks slipped to their 52-week lows.
Stocks seeing selling pressure
Stocks that witnessed significant selling pressure included Hindustan Copper, NALCO, Vedanta, Tata Steel, Poly Medicure, Bharat Forge, and Hindalco.
Sentiment meter: bearish
Market sentiment remained bearish. Out of the 4,076 stocks that traded on the BSE on Friday, 2,923 stocks declined, 1,029 advanced, while 124 stocks remained unchanged.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
The benchmark BSE Sensex declined 930.67 points or 1.22% to close at 75,364.69, while the broader Nifty 50 index closed at 22,904.45, down by 345.65 points or 1.49%.
Here's how analysts read the market pulse:
"The recent implementation of higher-than-anticipated U.S. tariffs has had a significant impact on global markets, triggering a bearish trend as investors assess the broader implications," said Vinod Nair, Head of Research at Geojit Investments, adding that the likelihood of retaliatory measures against the U.S. has further heightened uncertainty. U.S. bond yields and oil prices are trending downward, reflecting concerns over a potential economic slowdown and increased recessionary risks.
"Domestically, while the direct impact of these tariffs is relatively moderate compared to other major economies, it remains more substantial than initially projected. As Q4 approaches, a sequential improvement in corporate performance is anticipated. However, prevailing weak market sentiment suggests that the phase of consolidation may persist in the near term," added Nair.
US markets
Wall Street plunged for a second consecutive day on Friday, with the Nasdaq Composite entering a bear market and the Dow Jones Industrial Average falling into correction territory, as the intensifying global trade war triggered the steepest losses since the pandemic.
The Nasdaq tumbled 5.82%, the Dow dropped 5.50%, and the S&P 500 sank 5.97%.
European markets
European shares tumbled on Friday, with the benchmark STOXX 600 and Germany's DAX slipping into correction territory, as China's response to sweeping U.S. tariffs deepened fears of a global recession driven by the escalating trade war.
The pan-European STOXX 600 index closed down 5.1%, marking its sharpest daily decline since the COVID-19-driven selloff in 2020. The index has now fallen nearly 12% from its March 3 record close, confirming a correction.
Tech View
The Nifty has given a consolidation breakdown on the daily chart, indicating bearishness, with the index initially finding support at the crucial 22,900 level, said Rupak De, Senior Technical Analyst at LKP Securities, adding that sentiment remains weak, and a further decline from the current level could trigger additional market correction.
"On the lower end, if Nifty falls below 22,900, it may move toward 22,676. On the higher end, resistance is seen at 23,100. A move above 23,100 would provide a clear signal for a strong uptrend," said De.
Most active stocks in terms of turnover
HDFC Bank (₹3,059 crore), Reliance Industries Ltd (₹2,161 crore), BSE (₹2,109 crore), TCS (₹1,764 crore), Tata Motors (₹1,650 crore), Bajaj Finance (₹1,611 crore), and Coforge (₹1,576 crore) were among the most active stocks on BSE in value terms. Higher turnover in a counter typically indicates increased investor interest and trading activity.
Most active stocks in volume terms
Vodafone Idea (47.51 crore shares), YES Bank (11.12 crore), Tata Steel (8.08 crore), IDFC First Bank (5.59 crore), Suzlon Energy (5.18 crore), Zomato (4.82 crore), and Samvardhana Motherson International (4.15 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of Emami, Rainbow Children’s Medicare, Marico, InterGlobe Aviation, Sundaram Finance, Tata Consumer, and Max Financial Services were among the stocks that witnessed strong buying interest from market participants.
52-week highs and lows
Over 66 stocks hit their 52-week highs on Friday, while 89 stocks slipped to their 52-week lows.
Stocks seeing selling pressure
Stocks that witnessed significant selling pressure included Hindustan Copper, NALCO, Vedanta, Tata Steel, Poly Medicure, Bharat Forge, and Hindalco.
Sentiment meter: bearish
Market sentiment remained bearish. Out of the 4,076 stocks that traded on the BSE on Friday, 2,923 stocks declined, 1,029 advanced, while 124 stocks remained unchanged.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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