Barometers trade with moderate cuts; European mkt decline

The key domestic indices traded with modest losses in the afternoon trade, as investors remained cautious amid uncertainty surrounding US President Donald Trump's tariff plan. The Nifty traded below the 23,500 level. FMCG, oil & gas and private bank shares advanced while media, IT and auto shares declined.

At 13:30 IST, the barometer index, the S&P BSE Sensex, slipped 287.27 points or 0.37% to 77,319.16. The Nifty 50 index declined 94.05 points, or 0.40%, to 23,497.90.

In the broader market, the S&P BSE Mid-Cap index fell 0.55%, and the S&P BSE Small-Cap index shed 0.05%.

The market breadth was negative. On the BSE, 1,676 shares rose and 2,186 shares fell. A total of 155 shares were unchanged.

Gainers & Losers:

Sarthak Metals (up 20%), Generic Engineering Construction and Projects (up 19.97%), Vaishali Pharma (up 19.92%), Punjab Chemicals & Crop Protection (up 18.01%), and Dangee Dums (up 17.07%) were the major Nifty gainers.

Garware Technical Fibres (down 9.52%), Aegis Logistics (down 8.10%), Indian Overseas Bank (down 6.42%), Allied Blenders and Distillers (down 5.93%) and Gujarat Themis Biosyn (down 5.94%) were the major Nifty losers.

Stocks in Spotlight:

Force Motors rose 2.81% after the company announced that it has signed a landmark contract with Indian Defence Forces to supply 2,978 Force Gurkha light vehicles.

Indian Renewable Energy Development Agency shed 0.15%. The company informed that it has signed a facility agreement for raising external commercial borrowing (ECB) from SBI Tokyo Branch for JPY 26 billion (Rs 1,476 crore), including a green shoe option of JPY 10 billion.

The five-year unsecured loan will be repaid in a single payment at maturity and is expected to enhance IREDAs presence in global financial markets.

Sterlite Technologies (STL) shed 0.06%. The company, in consortium with Dilip Buildcon, announced that it had received an advance work order (AWO) worth Rs 2,631.14 crore from Bharat Sanchar Nigam (BSNL).

Bharat Heavy Electricals (BHEL) advanced 1.14% after the company announced that it had received a Letter of Intent (LoI) worth approximately Rs 11,800 crore.

BEML rose 2.51% after the company announced that it has secured a metro car supply and maintenance contract from Bengaluru Metro Rail Corporation (BMRCL) worth Rs 405 crore.

Global Markets:

European shares traded lower on Friday as global markets prepare for U.S. President Donald Trumps tariffs on automakers set to take effect on April 2.

Trumps new tariffs on foreign automakers are weighing on markets, with the newly elected White House leader announcing on Wednesday 25% duties on all cars not made in the United States, which is set to go into effect from April 2.

On the data front, traders will await inflation data from France and Spain, with retail sales data set to come from the U.K.

Most Asian stocks declined as the latest tariff salvo from U.S. President Donald Trump stoked investor worries of an all-out trade war.

Trump moved ahead with a 25% tariff on auto imports due to kick in next week, drawing fierce criticism from politicians and industry executives across the globe and a warning from global car makers that price hikes were likely on the way.

The widening of the global trade war that Trump kicked off upon regaining the White House has jolted the markets, with shares of global automakers hit particularly hard.

Gold is up more than 17% in the first quarter of the year, heading for its best quarterly performance since 1986.

Data on Friday showed core consumer inflation in Tokyo accelerated in March, remaining above the central bank's target on steady gains in food costs. That kept alive market expectations of a near-term rate hike.

Markets in the US continued to record some selling on Thursday, with U.S. President Donald Trump's administration expanding the trade war to autos with its latest round of tariffs.

The Dow Jones Industrial Average (.DJI), opening a new tab, fell 155.09 points, or 0.37%, to 42,299.70; the S&P 500 (.SPX), opening a new tab, fell 18.89 points, or 0.33%, to 5,693.31; and the Nasdaq Composite (.IXIC), opening a new tab, fell 94.98 points, or 0.53%, to 17,804.03.

The major U.S. indexes are on track for their first back-to-back monthly declines since the two-month period that ended in October 2023.

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