Indian equity benchmark index -- Nifty -- ended deeply in red amid rising concerns over U.S. President Donald Trump's extensive tariff could leads to global trade war. Index made negative start as traders took note of the Global Trade Research Initiative’s (GTRI) statement that the sectors including agriculture, meat, processed food, plastics, textiles and clothing will face over 30 per cent import duties in the US market from April 9, 2025. Which could lead to rise inflation and reduces economic consumptions of the country. Soon, index made sharp fall as traders took note of report that India's services sector activity eased slightly in March 2025, weighed down by a marginal slowdown in sales amid softer demand conditions and easing inflationary pressures. Market remined in red terrain through the day as the World Trade Organization’s Director-General stated that the measures announced by the US will have substantial implications for world trade and economic growth prospects, and could lead to an overall contraction of around 1 percent in global merchandise trade volume this year.
Most of the sectorial indices ended in red except FMCG stocks. The top gainers from the F&O segment were Marico, Interglobe Aviation, and Torrent Pharmaceuticals. On the other hand, the top losers were Hindustan Copper, National Aluminium Company and Tata Steel. 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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