Indian indices traded under pressure on April 3, following the announcement of reciprocal tariffs by US President Donald Trump. The headline indices closed lower with the Nifty declining 82.25 points or 0.35 per cent to close at 23,250.1 levels. On the other hand, the 30-share Sensex closed lower by 322.08 points or 0.42 per cent at 76,295.36 levels.
Top Gainers And Losers On April 3
The 50-share Nifty witnessed 29 declines and 21 advances on April 3 with pharma stocks emerging as top-gainers and IT sector stocks emerging as top-losers. Domestic IT majors such as Tata Consultancy Services, HCL Technology, Tech Mahindra and Infosys shares declined the most closing lower by as much as 3.97 per cent. On the other hand shares of Power Grid Corporation of India Ltd, pharma stocks such as Sun Pharmaceutical and Cipla Ltd emerged as the top-gainers as they closed higher by as much as 4.6 per cent. Other major gainers included Ultratech Cement and Shriram Finance which closed higher by up to 3.06 per cent.
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Nifty Pharma and Nifty FMCG Buck The Trend
Most major sectoral indices closed in the red as the market factored in the tariff announcement. The Nifty IT and the Nifty Auto index declined the most, closing lower by as much as 4.21 per cent. On the other hand the Nifty Pharma and the Nifty FMCG bucked the trend to close in the green up by 2.25 per cent. Broader market indices such as the Nifty SmallCap 100 and the Nifty MidCap 100 also closed in the green by as much as 0.58 per cent.
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US Indices Rally, Asian And European Indices Decline
Key US indices such as the S&P 500 and the Nasdaq closed in the green up by 0.87 per cent. Major European indices closed lower as the FTSE 100, CAC 40 and the DAX Performance Index by as much as 2.41 per cent. Asian indices such as the Nikkei 225, Hang Seng and the Shanghai Composite closed lower by as much as 2.85 per cent.
Primary Market Action On April 3
The bidding window for Infonative Solutions IPO and Spinaroo Commercial IPO closed on April 3. Shares of Identixweb Ltd are listed on the BSE SME platform with a premium of 1.85 per cent at Rs 55 apiece.
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Cues To Watch
The markets are expected to factor in the impact of the tariff announcements in the upcoming sessions. Notably the tariffs are expected to come into effect from April 5.
