The stock market witnessed significant shifts on Thursday, highlighting the impact of ongoing tariff disputes. A total of 52 stocks reached their 52-week lows, including well-known names such as Central Bank of India, Dabur India Ltd, and Tata Consultancy Services Ltd (TCS). Conversely, 72 stocks achieved their 52-week highs, with Coromandel International Ltd and JSW Holdings Ltd standing out among the gainers.

Market Performance Overview

As the day unfolded, the domestic stock market closed lower, with the Sensex plummeting 322.08 points to settle at 76,295.36. The Nifty 50 index followed suit, falling beneath 23,300 to finish at 23,250. This downward movement was primarily triggered by the announcement of substantial reciprocal tariffs by US President Donald Trump, which included a hefty 26% duty on imports from India.

• Key Market Highlights:
  • 52 stocks hit 52-week lows
  • 72 stocks reached 52-week highs
  • Sensex dropped to 76,295.36
  • Nifty 50 closed at 23,250

Global Market Reactions

The tariff announcement set off a wave of selling across global markets, notably impacting US equity futures. In India, the IT sector bore the brunt of these developments, with the Nifty IT index declining nearly 4.21% amid rising concerns regarding technology export tariffs.

Vaibhav Vidwani, a research analyst at Bonanza, provided insights into the current landscape, stating that while sectors like pharmaceuticals and public sector banks showed some resilience, the overall market sentiment remained pessimistic. The tariffs imposed by the US have introduced a significant level of uncertainty for Indian exporters, further exacerbating the market’s decline.

Nifty 50: Future Outlook

Looking ahead, Rupak De, a senior technical analyst at LKP Securities, noted that the Nifty 50 had a lower opening due to weak global cues but managed to recover quickly. He indicated that market sentiment remains robust, showcasing resilience despite global equity trends influenced by Trump’s tariffs.

• Key Support and Resistance Levels:
  • Short-term support at 23,100
  • Potential upward movement towards 23,430
  • A decisive break above 23,430 could lead to a stronger rally

As investors navigate these turbulent waters, experts continue to advise strategies that account for the evolving landscape of international trade and tariffs. With ongoing uncertainties, it is crucial for stakeholders to remain vigilant and adaptable in their investment approaches.

For further insights on investment strategies amid fluctuating tariffs, check out our expert analysis here.