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"The uncanny ability of the market to surprise was evident last week when the Nifty surged by 4.6% in a week. The fact that this happened when globally markets were jittery on fears of Trump’s reciprocal tariffs kicking in from April 2nd is important. So, what led to this sudden reversal of trend in the Indian market? Improving macros of the Indian economy and fair valuations have turned FIIs from sellers to buyers. More importantly, this has triggered massive short covering leading to sharp spikes in prices. Even though the undertone of the market is bullish investors have to be careful. April 2nd- the reciprocal tariffs day- is looming large and the uncertainty surrounding that is huge. Investors can wait for clarity to emerge regarding the reciprocal tariffs before taking a call on further investment."

 

 

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