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Nifty ends lower on Thursday amid imposition of US tariffs

03 Apr 2025 Evaluate

Indian equity benchmark index -- Nifty -- ended lower on Thursday, followed by US President Donald Trump's announced of 27 per cent reciprocal tariffs on import from India. Index made gap-down opening as negative cues came from Asian counterparts as Trump’s reciprocal tariff policy sparked concerns over inflation and geopolitical tension. Traders remined cautious as provisional data from the National Stock Exchange showed foreign portfolio investors (FPIs) stayed net sellers on Wednesday for the third straight session as they offloaded equities worth Rs 1,538.88 crore. However, losses remined capped as traders took support as the Global Trade Research Initiative (GTRI) stated that essential and strategic items such as pharmaceuticals, semiconductors, copper, and energy products like oil, gas, coal and LNG are exempted from the 27 per cent import duty announced by the US. Market remined in red terrain through the day and closed below 23,300 mark.

Traders were seen piling up positions in Pharma, PSU Bank and Media stocks, while selling was witnessed in IT, Auto and Metal. The top gainers from the F&O segment were IDFC First Bank, GMR Airports, and Angel One. On the other hand, the top losers were Persistent Systems, Coforge and KPIT Technologies. In the index option segment, maximum OI continues to be seen in the 23400 - 23600 calls and 23400 - 23600 puts indicating this is the trading range expectation.

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