Market Watch : Trump tariff fears weigh on risk appetite - Geojit Financial Services Ltd
ASIA
Asian markets declined on Tuesday, following a weak performance in US markets, where technology and AI stocks experienced selling pressure. Gift Nifty suggests a flat opening for Indian markets.
US & EUROPE
The S&P 500 declined on Monday as the market struggled to recover from Friday’s significant sell-off. Major tech companies faced pressure, causing the Nasdaq to drop and enter negative territory for 2025. European markets also fell on Monday as traders responded to the outcomes of the German federal election.
COMMODITIES
Gold prices soared to a record high on Monday, fueled by safe-haven demand due to concerns over U.S. President Donald Trump's tariff plans, with additional support from inflows into the world's largest gold-backed exchange-traded fund. Oil prices also rose on Monday as new U.S. sanctions on Iran and a pledge to offset overproduction by Iraq heightened worries about near-term supply shortages, aiding the market in recovering some of Friday's significant losses.
* Events today: US consumer confidence.
* India's Feb gold imports to hit 20-year low on record high prices.
* Citi upgrades India to 'overweight', sees Nifty hitting 26,000 by December
Nifty Outlook
We are now within the 22580-22300 region on anticipated lines. But this has also brought RSI near 30 for the first time since November, when we saw a major reversal. We will look for a push above 22620-730 region for signs of recovery taking shape, but will wait for 22950 to be conquered, as a confirmation of strength. Downside marker for the day may be placed at 22480.
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