A flight from global equities accelerated Monday and investors piled into haven assets as the fallout from US President Donald Trump’s tariffs deepened after China slapped retaliatory measures.
Contracts for the S&P 500 and the Nasdaq 100 fell more than 4% each after the indexes slumped Friday. From Sydney to Tokyo, Asian stocks plunged at the open along with commodities such as oil and copper. Yields on two-year Treasuries, the most policy sensitive bonds, dropped as much as 22 basis points while the Japanese yen and Swiss franc surged.
Global stocks slupmed, treasuries rally on tariff turmoil- Daily Market Update 7th April 2025
Overview and Outlook
Global Stock Market Today
- US equity markets settled sharply lower over 5.50%.
- European equity markets ended lower in range 4.45% to 5.21%.
- Asian equity markets are also trading lower.
- GIFT Nifty is down by 880 points, Nifty futures likely to open around 22080 levels.
Nifty Overview & Outlook
Benchmark Nifty index opened with a gap on the down side and it kept on sliding throughout the day to settle at 22904 levels after a cut of 345 points from its previous closing values.
Broader markets underperformed the benchmark as Mid and Small cap indices fell 3% to 4%.
Performance on the sectoral front was no different. Metal index was the worst performer, fell over 6.5% followed by Pharma, IT, Healthcare and Oil & Gas index that fell in range 3% to 4% each.
Going ahead, Markets are likely to stay volatile in coming day as multiple regions or countries are announcing retaliatory measures on Trumps reciprocal tariffs. On levels front 21960-21800 will act as support on the down side.
Derivatives Overview & Outlook
Last Friday, Nifty and Midcapnifty futures added 4.9% and 2.4% of open interest as short buildup whereas no significant change was seen in Finnifty and Banknifty futures on price front.
On the sectoral front, Capital Goods and Textile stocks were down on long unwinding while rest of the F&O sectors were down on short buildup.
On options front, call writing along with put addition was seen at multiple strikes. Maximum positions are at 22000 PE followed by 22500 PE and 23200 CE followed by 24000 CE.
Institutional Trading Activity
Last week, FIIs sold stocks worth Rs 13839 Cr in the cash segment, sold stocks futures worth Rs 6450 Cr and also sold index futures worth Rs 1365 Cr. DIIs were net buyers in the cash segment to the tune of Rs 5633 Cr during the week.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 22450-22520; Supports 22280-22200
Banknifty – Resistances 518500-52100; Supports 51300-51000
Finnifty – Resistances 24920- 25000; Supports 24750-24650
F&O Security in Ban Today: BSOFT & HINDCOPPER
Disclosure
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