MUMBAI: Dalal Street investors will look at a host of factors to determine the market’s trend in the truncated trading week.
US tariff-related issues are expected to be the dominating factor that would weigh on investor sentiment. In addition, RBI’s interest rate decision, trading behaviour of foreign funds, start of the quarterly earnings season by India Inc, announcement of the retail inflation numbers for March and the direction of the crude oil prices would also impact the week’s trading when it begins on Monday.
Markets will be closed on Thursday, April 10 for Shri Mahavir Jayanti, BSE said. Globally, investors are witnessing a market meltdown after the US on Wednesday night imposed new tariffs on most of its trading partners.
The decision has shaken global markets with most of the world’s major indices down in high single digits in percentage terms. Dow Jones index has lost 8.7% since its Wednesday close while S& is down 9.9% and Nasdaq Composite has lost 11%. In Asia, Nikkei in Japan has lost 5.4% and in the UK, FTSE is down 6.3%.
Back home, while the sensex has lost 1.6% since Wednesday and is at 75,365 points, Nifty is down 1.8% at 22,904 points. Stocks of companies from industries like pharma, auto, metals, textiles, software, and gems & jewellery were the most hit in the last few days, mainly because these companies are expected to be affected the most by the US’s new tariff structure. Market players would also keep an eye on the trading pattern of foreign funds, which has not been consistent in the past two weeks.
