Crime Today News
Stock markets opened sharply lower on Wednesday, April 9, 2025, as heightened trade tensions between the US and China rattled global markets. The Sensex opened at 74,103.83, down from the previous close of 74,227.08, and is currently at 74,039.01, with a decline of 188.07 points or 0.25 per cent. The Nifty is trading at 22,440.65, slipping 95.20 points or 0.42 per cent, after opening at 22,460.30, against the previous close of 22,535.85.
The sell-off came as the White House confirmed President Trump’s implementation of 104 per cent tariffs on many Chinese goods, effective after midnight. Beijing has maintained its 34 per cent retaliatory duties on US goods, signalling an unwillingness to back down from the escalating trade conflict. Adding to market concerns, Trump announced plans to impose “massive tariffs on pharmaceuticals very shortly” and implement reciprocal tariffs ranging from 15 per cent to 50 per cent on 184 countries starting today.
“The escalating trade war, to impose tariffs on pharma and implantation of reciprocal tariff, will push the world into an economic recession, which may negatively impact across the global market, including India,” warned Vikas Jain, Head of Research at Reliance Securities.
Asian markets tumbled in response, with Japan’s Nikkei 225 falling 3.12 per cent to 31,982. The US markets had reversed early gains on Tuesday, with the S&P 500 closing below 5000 for the first time in almost a year after hopes faded for any US delays or concessions on tariffs.
“The S&P 500 has lost $5.83 trillion in market value, for its steepest four days of losses since the index was created in the 1950s,” noted Devarsh Vakil, Head of Prime Research at HDFC Securities.
All eyes are now on the Reserve Bank of India’s monetary policy announcement scheduled for 10 AM today. Market expectations suggest a 25 basis point rate cut, driven by domestic inflation falling to a seven-month low of 3.61 per cent, well below the RBI’s target of 4 per cent.
“We expect the RBI to cut the repo rate by 25 bps and shift its stance to accommodative from neutral. The RBI is seen striking a dovish tone and we expect the bond yield curve to shift lower, with the 10-year yield expected to move towards 6.40 per cent levels,” Vakil added.
In sectoral movements, pharmaceutical stocks faced pressure following Trump’s tariff threats, while oil marketing companies, paints, cement, and lubricant stocks gained as Brent crude tumbled to a four-year low of $60 per barrel — a 20 per cent drop from recent highs. Metal stocks weakened on concerns about China, a major global consumer and exporter of metals.
Among individual stocks, PowerGrid led the gainers, rising 2.82 per cent to ₹297.10, followed by Nestle India at 1.09 per cent, Mahindra & Mahindra at 1.07 per cent, and Hindustan Unilever also at 1.07 per cent. On the losing side, Wipro was the biggest laggard, falling 4.29 per cent to ₹236.65, followed by Tech Mahindra at 3.04 per cent, Tata Steel at 2.55 per cent, and ONGC at 2.42 per cent.
“Given the global uncertainty, traders should apply caution in the market and avoid bargain hunting,” suggested Jain, advising focus on banking, NBFC, and realty stocks ahead of the RBI policy meeting.
The volatility is expected to persist as markets navigate today’s weekly derivative expiry. Ms. VLA Ambala, Co-Founder of Stock Market Today, noted, “We may anticipate a sideways movement in the range of 23,350 to 21,350 for the next few days.”
From a technical perspective, Sameet Chavan, Head Research at Angel One, identified important levels: “The 22300-22250 subzone is anticipated to provide a protective barrier against any potential declines. The 22000 mark serves as a critical support level, while 22700-22850 is identified as an essential resistance point.”
One positive development came from Skymet, which predicted normal monsoon with 103 per cent rainfall of the long-period average, potentially benefiting fertilizer and pesticide stocks.
In commodities, gold found support at $2978-2955 while facing resistance at $3040-3065. Crude oil remained under pressure with support at $56.50-55.40 and resistance at $58.90-60.00, according to Rahul Kalantri of Mehta Equities.
As global markets continue to grapple with trade tensions and recession fears, investors are advised to maintain diversified portfolios and focus on quality stocks for long-term investments while traders might consider a sell-on-rise strategy given the persistent pressure from foreign institutional investors.
Published on April 9, 2025
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