Stock Market Live Update: Nomura India Strategy

  • March 2026 Nifty target at 24,970

  • Prefer domestic plays over exporters

  • Markets resilient with risk premium in check so far

  • Corporate earnings still have downside risk to current estimates

  • Portfolio stance: Selective with a preference for domestic businesses

  • Most positive on financials as the segment has relatively low earnings risk and presents valuation comfort

  • Positive on consumer staples, discretionary, oil and gas, telecom, power, internet, real estate and select domestic healthcare plays

  • Cautious on export sectors and capex themes – IT services, industrials, cement, and metals

  • Pharma – expect tariff impact to be passed on; correction should represent a buying opportunity

  • Continue to recommend a bottom-up approach and would avoid stocks with very high valuation multiples

Dollar Index Slumps To Lowest Level Since March 2022 

The dollar index, which measures the strength of the US unit against six major currencies across the globe, hit the lowest level since March 31, 2022 in Asia-Pacific trade session. The index declined as hedge funds started to sell currency after President Donald Trump’s remark on Federal Reserve Chair Jerome Powell’s tenure raised serious concern about the US central bank’s independence and authority.

Trump said in post on social media that Powell’s resignation cannot come fast enough. He said Thursday that he’s unhappy about Fed not reducing interest rate recently, Bloomberg reported.

The dollar index was trading 0.85% down at 98.39 as of 8:29 a.m.

Gold Prices Hit Record High As Dollar Index Slumps 

Gold prices recovered in Monday’s session and hit record high as dollar index slumped to over three year low. A fall in the value of greenback increases the affordability of the bullion.

The Bloomberg spot gold was trading 1.68% higher at $3,382.85 an ounce as of 8:15 a.m. It rose to a record high of 3,384.64 an ounce.

Asia Market Update: Most Markets Rise Amidst Trade Talks Between US & Japan 

Most markets in Asia-pacific region were trading higher on Monday amidst trade talks between Japan and US. Japan’s Prime Minister Shigeru Ishiba said that trade talks between the Asian nation and US could work as a model for the world. His statement comes days after his counterpart Donald Trump sating that there’s a significant progress in the trade talks.

The CSI 300 and KOSPI were trading 0.26% and 0.22%, higher respectively. The Nikkei 225 was trading nearly 1% down as of 7:58 a.m.

US Market Update: Share Indices End Mixed

Markets on Wall Street ended on a mixed note on Thursday as traders remain concerned over impacts of US’s tariff policies amidst ongoing trade talks with Japan.

The Dow Jones Industrial Average and Nasdaq Composite ended 1.33% and 0.13% down, respectively. The S&P 500 finished 0.13% higher with last hour gains.

GIFT Nifty Indicates Lower Open; HDFC Bank, Jio Finance, BHEL Share Prices In Focus

The GIFT Nifty was trading lower Monday morning, implying a negative start to the week. HDFC Bank Ltd., Yes Bank Ltd., HDFC Life Insurance Co., Bharat Heavy Electricals Ltd., and Jio Financial Services Ltd. share prices may react in Monday’s session, due to earnings and business related news.

The GIFT Nifty was trading 0.26%, or 61.50 points down at 23,839.50 as of 6:46 a.m.

On Thursday, the NSE Nifty 50 and BSE Sensex rose for fourth session in a row. The benchmark indices recorded the best weekly gains since Feb. 1, 2021. The NSE Nifty 50 closed 414.45 points or 1.77% higher at 23,851.65, while the BSE Sensex ended 1,508.91 points or 1.96% up at 78,553.2.

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