Yield On The 10-Year Bond Falls

The yield on the 10-year bond opened 2 basis points lower at 6.46%. It closed at 6.48% on Wednesday, according to data on Bloomberg.

Rupee Opens Weaker Against US Dollar

Rupee weakened 24 paise to open at 85.75 against US dollar. It ended at 85.51 a dollar on Wednesday, according to data on Bloomberg.

Stock Market Live: ACMA On US Auto Tariff

  • Auto & auto parts subject to Section 232 tariffs at 25% not covered in latest order

  • ⁠Detailed list of auto components that will be subject to 25% auto tariff is awaited

  • ⁠ACMA says hopeful of a India-US trade deal that will be balanced for both nations

Note: The Automotive Component Manufacturers Association of India (ACMA) is the apex body representing the interest of India’s auto components industry

Quote

“ACMA is committed to engaging with all stakeholders to ensure the long-term interests of the Indian auto component industry.” — ACMA President Shradha Suri Marwah

Source: ACMA statement

Stock Market Today: AU Small Finance Bank Business Update  (QoQ)

  • CASA ratio at 29.2% compared 30.6%

  • Total deposits rose 10.7% at Rs 1.2 lakh crore

  • Gross advances rose 7.7% ar Rs 1.1 lakh crore

Source: Exchange filing

Stock Market Live Update: Nuvama On Trump’s Liberation Day Impact 

  • Growth concerns beginning to dominate inflation concerns

  • Expect Fed’s policy choices get complicated

  • Bigger channel of impact is overall global slowdown to hurt everyone

India Implications:

  • Around 18% of total goods exports to US, 2% of GDP

  • Direct impact of taiffs on India limited, indirect impact is large

  • Weak overall global growth is likely to weigh on India’s exports

  • 2/3 of India’s topline linked to global growth directly or indirectly

  • BSE500 topline and exports have strong correlation, earnings cut risks loom large

Portfolio Allocation:

Investors should position for a global risk-off

Overweight:

Private banks, insurance

consumer, telecom, pharma

cement, chemicals, QSR

Underweight:

Industrials, metals, PSUs

Recently downgraded IT to underweight on high valuations

Many Countries Will Just Walk Away From The Negotiating Table, Says BCA Research’s Marko Papic

There is an absolutely exodus from the US in the last six weeks. Algorithm to calculate the tariff is sixth grade mathematics. It is a negotiating strategy but the price is so high that customer will likely walk away. Many countries will just walk away from the negotiating table, said Marko Papic, macro and geopolitical expert at BCA Research.

Almost every equity market has outperformed the US market. Papic believes that every equity market, including India, will outperform the US.

Formula for computation of the tariff is irrational. Tariff and US view is worse than the worst case scenario, said Ajay Bagga, a market expert.

NDTV Profit Exclusive: Commerce Ministry Monitoring Impact Of Reciprocal Tariffs Imposed By US

Reciprocal, differential tariffs imposed on India. Common 10% baseline tariff to come into effect starting April 5, additional 16% reciprocal tariff to hit India starting April 10. Tariffs seen as a mixed bag for India, according to sources in the Ministry of Commerce.

Some sectors will get impacted, some might benefit as India might get competitive edge against nations like Vietnam, Indonesia. US President retains power to reduce tariffs for countries that negotiate or satisfy American concerns.

India ahead in this scenario, given that bilateral trade negotiations have already started. More elaborate statement, analysis by Commerce Ministry expected during the day

Oil Update: Crude Prices Falls Over 2% Post US Tariff Policies

Crude oil prices declined over 2% early trade Thursday as the US imposed higher than expected tariffs on its trading partners to counter trade imbalances. US’s protectionist trade policies threatens the present global trade ecosystem which may weigh on demand for crude oil.

China, world’s second largest economy and one of the biggest consumer of crude oil now faces tariffs more than 50% from the US.

The brent crude was trading 2.45% down at $73.11 a barrel as of 7:38 a.m.

Gold Prices Hit Record High As Investors Run To Haven Asset Following US Tariff Announcements

Gold prices hit record high on Thursday as investors seek comfort in the safe-haven asset while tensions rise about the future of global trade ecosystem after US unveiled tariff policy Wednesday.

The bullion rose as much as 1.07% to record high of $3,167.84 an ounce so far today. It was trading 0.56% higher at $3,151.74 an ounce.

Asia Market Update: Nikkei 225 Slumps Over 4%; KOSPI Tumbles Nearly 3% 

Japan’s benchmark the Nikkei 225 slumped over 4% and hit the lowest level since early August 2024. The KOSPI index fell nearly 3% and touched the lowest level since Jan 3. Markets in China and Australia also logged sharp losses.

US President Donald Trump imposed tariffs over 50% on China, 24% on Japan. Trump imposed 10% levy to all exports to the US, and additional tariffs on around 60 nations to deal with the large trade imbalances, Bloomberg reported.

The Nikkei 225 and KOSPI pared losses to trade 2.68% and 1.07% down, respectively. The CSI 300 was 0.16% down as of 7:37 a.m.

US Market Update: US Futures Tumble After Trump Unveils Sweeping Tariff On Trading Partners 

US stock futures tumbled after President Donald Trump unveiled sweeping tariff on trade partner countries. He imposed 10% tariff on all exports to the US, and different rates of additional tariff on trading partners on around 60 nations.

The Dow Jones Industrial and S&P 500 futures declined 1.88% and 2.79% down, respectively. The Nasdaq 100 futures fell 3.46% down.

On Wednesday, US markets closed higher on hopes that tariff policies will be less aggressive. The Dow Jones Industrial and S&P 500 ended 0.56% and 0.67% higher, respectively. The Nasdaq Composite ended 0.87% higher.

GIFT Nifty Implies Lower Open As US Tariff Impact Weighs; HDFC Bank, BEL In Focus

The GIFT Nifty was trading lower Thursday morning, which implied the benchmark indices may open in losses. US unveiled tariffs on Liberation Day which are higher than anticipated, which will affect global trade ecosystems significantly.

US President Donald Trump announced that a 10% levy will apply on all exports to the world’s largest economy, and additional tariffs will apply on its largest trading partners. Trump announced 26% levy on Indian imports, 25% on automobile imports along with baseline tariffs.

The GIFT Nifty was trading 0.74% or 172.50 points lower at 23,050.00 as of 6:36 a.m.

HDFC Bank Ltd., IndusInd Bank Ltd., Bharat Electronics Ltd., MOIL Ltd., and Mahindra & Mahindra Financial Services share prices are in focus.

The benchmark equity indices snapped a two-day losing streak on Wednesday, tracking a rise in HDFC Bank Ltd.

The NSE Nifty 50 ended 166.65 points or 0.72% higher at 23,332.35, and the BSE Sensex closed 592.93 points or 0.78% up at 76,617.44.

. Read more on Markets by NDTV Profit.The Nifty 50 and Sensex may open sharply lower tracking similar moves in Asia-Pacific peers as US imposed higher tariffs than expected. Get live updates on stock markets here on April 3.  Read MoreMarkets, Notifications 

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