Stock Market LIVE: Nifty Dips to 23,300 Amidst Tech and Banking Sector Struggles

The Indian stock market experienced a decline right from the start of Tuesday’s trading session. The Nifty 50 index opened below 23,400, while the Sensex plunged over 500 points, settling at 76,870. This drop marked a departure from the upward trend seen in global markets. Interestingly, broader market segments managed to show resilience, outpacing the main indices.

Key Factors Influencing Today’s Market

U.S. Tariffs Announcement

In a significant development, U.S. President Donald Trump is set to unveil a uniform global tariff on all nations, dubbed “Liberation Day.” Speaking about the initiative, Trump stated, “We would start with all countries, so let’s see what happens.” This announcement is anticipated to have far-reaching implications for international trade dynamics.

Global Market Trends

On Monday and early Tuesday, global equity markets showed a notable uptick. Investors are keenly awaiting details regarding Trump’s reciprocal tariffs, which could influence market movements. The U.S. stock indices closed predominantly higher, prompting the Asia-Pacific markets to open positively on Tuesday.

RBI Monetary Policy Meeting Ahead

The Reserve Bank of India’s Monetary Policy Committee is scheduled to convene from April 7 to 9. Analysts are largely predicting a 25 basis points rate cut aimed at maintaining accessible liquidity in the market. The RBI’s forecasts for FY26 GDP and inflation figures are expected to play a crucial role in shaping economic sentiments.

Market Strategy and Insights

Investment expert Shrikant Chouhan, Head of Equity Research at Kotak Securities, advises a cautious approach given the current market volatility. He suggests that if the Nifty closes below 23,350, it may be wise to reduce weak long positions. Conversely, a rebound to the 23,700-23,800 range could signal a more favorable trading environment. For the Bank Nifty, a drop below the 200-day SMA or 51,000 could shift market sentiment, raising the possibility of testing levels around 50,500-50,400.

Company Updates Impacting the Market

Ola Electric reported 23,430 units sold in March 2025, indicating a recovery in daily registration volumes after earlier disruptions caused by a shift to in-house vehicle registrations.
VK Vijayakumar, Chief Investment Strategist at Geojit Investments, emphasized that market reactions will heavily depend on the specifics of Trump’s tariff announcements and their implications across various sectors.
Vodafone Idea is in the spotlight as the Indian government plans to increase its stake to approximately 48.99% through the conversion of outstanding spectrum dues into equity shares.
Motilal Oswal maintains a Sell rating on Vodafone Idea, citing that while the government’s move will ease cash flow in the short term, stabilizing its subscriber base and addressing long-standing debts are crucial for the company’s survival.
ITC shares are drawing attention today following the acquisition of the pulp and paper business from Aditya Birla Real Estate, previously known as Century Pulp and Papers.