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Stock Market Today, Wednesday, April 2, 2025: After months of speculations and negotiations, the US government will roll out, what it calls, “reciprocal tariffs” later today. Stock market investors, meanwhile, are nervous as they look forward to the sectors that may be impacted and how the tariffs will affect the US and the global economy.
Caution led to sharp profit booking in Indian equities on Tuesday where the BSE Sensex index shed 1,390.41 points or 1.80 per cent to close at 76,024.51. The NSE Nifty50, too, dropped 353.65 points or 1.50 per cent to end at 23,165.70.
FIIs/FPIs net sold Indian stocks worth ₹5,901.63 crore on Tuesday, while DIIs net bought stocks worth ₹4,322.58 crore.
Stock Market Outlook: Key levels to Watch on Sensex, Nifty Today
Devarsh Vakil, Head of Prime Research, HDFC Securities:
By testing 23,141, the Nifty has completed a 38.2-per cent retracement of the entire rise observed from 21,964 to 23,869. A sustained level below 23,141 could drag the index towards the next support at 22,917, which represents a 50 per cent retracement level. The previous support of 23,400 is expected to act as resistance for the Nifty index moving forward.
Rajesh Bhosale, Equity Technical Analyst, Angel One:
With Tuesday’s decline, the Nifty has retraced 38.2 per cent of its recent rally and is now testing a crucial support zone around 23,100, which aligns with the 20-DEMA and 50-DEMA. Holding this level will be key as a breach could push Nifty stock price lower, towards the 23,000–22,900 range.
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Looking back at March’s bullish candle, we had advocated a buy-on-dip approach. For the bullish momentum to regain strength, the Nifty needs to close above the 89-DEMA at 23,350, followed by a break above 23,600. It is advisable to remain cautious, avoid complacency, and limit overnight exposure.
Shrikant Chouhan, Head Equity Research, Kotak Securities:
A long bearish candle was formed on the daily charts which, combined with a correction continuation, indicates further weakness from current levels.
For day traders, 23,100 on the Nifty and 75,800 on the Sensex would be the key support zones. If the market manages to trade above this level, we could expect a pullback rally to 23,300-23,350/76,500-76,650.
On the flip side, breaching the above-mentioned support levels could make the Nifty index retest the levels of 50-day SMA (Simple Moving Average) or 23,000-22,950, while the Sensex may drag to 75,500-75,300.
Stock Market Today Prediction, April 2, 2025:
Ahead of the US’ tariff announcement, GIFT Nifty index futures are trading listless, down 2 points at 23,320, at 7:10 AM.
US President Donald Trump will announce the upcoming import tariffs at Rose Garden at 4:00 PM EST (1:30 AM IST). Trump has, repeatedly, touted April 2 as “Liberation Day” where the US will impose “reciprocal tariffs” on “all countries” levying “unfair charges on the US goods”.
Global investors, meanwhile, seem to be fence sitters today as they await Trump’s tariffs, which will be effective immediately, as per White House.
Japan’s Nikkei is trading 0.28 per cent lower, while South Korea’s Kospi is down 0.58 per cent. Australia’s ASX200, however, is up 0.2 per cent.
Overnight, in the US, the S&P 500 added 0.38 per cent, and the Nasdaq Composite gained 0.87 per cent. The Dow Jones Industrial Average, however, slipped 0.03 per cent.
Apart from the US’ reciprocal tariff announcement, investors also await India’s Manufacturing PMI data for March, and the US’ crude oil and gasoline storage update.
Gold Rate Today
Spot Gold rate, in the international market, was hovering at record high levels of $3,160 an ounce, up 0.43 per cent.
On Tuesday, Spot gold settled 0.3 per cent lower at $3,113.43 per ounce on profit-taking as investors turned to the safe-haven asset ahead of US President Donald Trump’s planned announcement of sweeping tariffs on all countries that have a trade imbalance with the US.
That said, gold prices may reach $3,500 an ounce-mark in the next 18 months, yielding a return of around 13 per cent from the current levels, forecast analysts at BofA Securities.
IPOs Today:
Shares of ATC Energies System, and Shri Ahimsa Naturals will list on the stock exchanges today. Among active IPOs, Retaggio Industries IPO (SME) will close for subscription (Day 4) today, while Infonative Solutions IPO (SME) and Spinaroo Commercial IPO (SME) will enter Day 2 of subscription.
In a separate news, the Securities and Exchange Board of India (Sebi) has given NSDL (National Securities Depository Ltd) time till July 31 to launch its ₹3,000 crore initial public offer (IPO).
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