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Asia

Asian stocks declined on Tuesday, mirroring the drop in US shares after President Donald Trump announced plans to impose tariffs on trading partners, sparking fears of a trade war that could hamper global economic growth. Gift Nifty suggests a negative start for Indian markets.

US & Europe

Wall Street's major stock indexes ended significantly lower on Monday following President Donald Trump's announcement of 25% tariffs on Canada and Mexico, with the S&P 500 experiencing its largest daily percentage drop since December 18. In contrast, European markets closed higher on Monday, driven by a surge in defense stocks after regional leaders held security discussions that included increased military spending.

Commodities

Oil prices dropped on Monday afternoon to their lowest point of the year following the OPEC oil cartel and its allies' confirmation of plans to gradually boost crude production starting in April. Meanwhile, gold prices climbed over 1% on Monday after hitting a three-week low in the previous session, spurred by a weaker dollar and safe-haven buying due to concerns over U.S. President Donald Trump's tariff policies.

• Events today: Japan/ EA unemployment rate.

• Exchange debut: Nukleus Office Solutions (SME)

• Ex-Date: Coastal Corporation, Mangalam Global Enterprise (Split)

• EBISU Global Opportunities Fund bought 45.21 lakh shares in Balaxi Pharma at an average price of Rs 53 per share from MGC Fund. Further, Unico Global Opportunities Fund acquired 45.77 lakh shares in the company at the same price from Elara India Opportunities Fund.

Nifty Outlook

Inability to clear 22350 on the bounce yesterday has exposed 21851, as feared. While we brace for a lower opening, resilience in the Nifty 50 components as well as an upward sloping MACD histogram encourages us to keep eying the prospects of bounce back, especially if we get back above 22142. Failure to do this could see continuation of downtrend with deeper support below 21851 seen at 20900.

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