Market Opens in Red Following Global Cues

Today, the Indian equity benchmark indices, BSE Sensex and Nifty50, opened lower, mirroring global market trends. The BSE Sensex dipped below 76,000, while Nifty50 struggled to stay above 23,100.

Impact of US Tariffs Announcement

The domestic equities showed a muted reaction to the United States' announcement of reciprocal tariffs, including those affecting India. Investors are now turning their attention to the upcoming RBI's monetary policy decision on April 9 and the fourth quarter earnings season.

Global Market Reactions

Wall Street indices experienced their steepest declines in years, triggered by concerns over a potential global trade war. Similarly, markets in Australia and Japan opened lower, reflecting the heightened volatility and investor caution worldwide.

Safe-Haven Assets Gain Appeal

Amidst the turmoil, gold prices remained stable, poised for a fifth consecutive weekly gain. The precious metal's appeal as a safe-haven investment has surged in light of the ongoing global trade tensions.

Investor Activity

Foreign portfolio investors were net sellers, offloading shares worth Rs 2,806 crore, whereas domestic institutional investors purchased shares valued at Rs 221 crore. The net short positions by Foreign Institutional Investors also saw a significant increase.