Sensex, Nifty Close Lower but Show Resilience Despite Trump Tariffs; Pharma Leads Gains
Key Highlights:
Stock Market Today (4 April 2025): Indian equity markets closed in the red on Thursday, April 3, but outperformed most of their Asian counterparts despite fresh tariff announcements from the Donald Trump administration, which imposed a 26% duty on Indian exports. This places India among the least-tariffed nations in Asia, a silver lining in the global trade tensions.
Sensex, Nifty End Lower But Recover Intraday Losses
The Nifty 50 opened the session with steep losses but managed to recover most of them by the close, ending the day at 23,243 points, down 0.38%. The Sensex followed a similar path, closing 0.42% lower at 76,295 points.
Despite the negative close, Indian markets fared better than regional peers, highlighting the market’s underlying resilience.
Sectoral Performance: Pharma Leads the Charge
Out of the 13 key sectoral indices:
- Nifty Pharma surged 2.25%, driven by positive sentiment following the US tariff exemption on Indian pharmaceutical exports.
- Nifty PSU Bank, Media, and Consumer Durables indices also posted gains, rising between 0.35% and 1.94%.
- Most other sectors witnessed marginal declines, in line with the broader market.
Expert Outlook: RBI Policy & Q4 Earnings in Focus
Siddhartha Khemka
Head of Research – Wealth Management, Motilal Oswal
“With the major tariff news behind us, market focus will now shift to the RBI monetary policy on April 9 and the Q4 FY25 earnings season, which kicks off next week.”
Rupak De
Senior Technical Analyst, LKP Securities
“Despite weak global cues, Nifty showed strength and recovered. As long as it stays above 23,100, the trend remains positive. A break above 23,430 could trigger a stronger rally.”
Hrishikesh Yedve
AVP Technical and Derivatives Research, Asit C. Mehta Investment Intermediates
“Bank Nifty defended the 200-Day Simple Moving Average (DSMA) at 51,030 and closed positively at 51,597. Major support lies at 50,640, and resistance is seen near 52,000.”
Top 7 Stocks to Watch Today (April 4)
Analysts from Choice Broking, Anand Rathi, and Prabhudas Lilladher have recommended the following stocks for short-term gains:
Sumeet Bagadia – Choice Broking
- Aarti Pharmalabs: Buy at ₹804.85 | Target: ₹860 | Stop Loss: ₹777
- Mazagon Dock Shipbuilders: Buy at ₹2738 | Target: ₹2930 | Stop Loss: ₹2630
Ganesh Dongre – Anand Rathi
- Prestige Estates Projects Ltd.: Buy at ₹1189 | Target: ₹1225 | Stop Loss: ₹1165
- Bandhan Bank: Buy at ₹155 | Target: ₹165 | Stop Loss: ₹148
- SKF India: Buy at ₹3850 | Target: ₹3930 | Stop Loss: ₹3800
Shiju Koothupalakkal – Prabhudas Lilladher
- Welspun Corp: Buy at ₹858 | Target: ₹908 | Stop Loss: ₹840
- Jupiter Wagons: Buy at ₹376 | Target: ₹400 | Stop Loss: ₹367
Key Technical Levels to Watch
| Index | Support Level | Resistance Level | Trend |
|---|---|---|---|
| Nifty 50 | 23,100 | 23,430 | Bullish |
| Bank Nifty | 50,640 | 52,000 | Bullish |
What’s Next?
Markets will now look for cues from:
- The RBI’s monetary policy review on April 9, which could influence rate-sensitive sectors.
- The start of the Q4FY25 earnings season, expected to provide direction for mid- and large-cap stocks.
- Further developments on global trade and US macroeconomic data, especially in light of the Trump tariffs.
Disclaimer:
This article is for informational purposes only. The stock recommendations mentioned are by individual analysts and not endorsed by Hindustan Herald. Always consult with certified financial advisors before making investment decisions.
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