Stock market analysis for tomorrow

STC BUSINESS DESK
APRIL 06 (STC): Domestic benchmark indices suffered losses on Friday, in line with the global markets which tanked after US President Donald Trump’s reciprocal tariffs announcement. BSE benchmark Sensex settled 930.67 points or 1.22 per cent down at 75,364.69 while NSE Nifty 50 index settled below 23,000.
It is to be seen whether the US stock market crash on Friday evening have a major impact on the Indian stock market on Monday or not. Notably, GIFT Nifty, which is an early indicator of how Sensex and Nifty are likely to start off trade, suggests a gap down start, as it fell over 400 points on Friday.
Market experts believe that though the tariffs on India are higher than expected, it is relatively lower compared to that levied on countries like China, Vietnam, Thailand, Indonesia and Bangladesh which compete with India for the export share. “We expect that the impact of reciprocal tariffs will be limited,” said Motilal Oswal’s Siddhartha Khemka.
Anand Rathi Stock Brokers’ Jigar Patel explained that the D-Street witnessed a turbulent session on Friday as bears dominated and pulled Sensex down by 1.22 per cent. “Technical indicators suggest the market is oversold, indicating a possible rebound amid current volatility within the next few sessions,” he said.
The market expert has put resistance at 75,800 for Monday’s trading session while support at 75,000. Patel noted that a breakout above 75,800 may signal an upside, while a drop below 75,000 could trigger a pullback toward 74,800.
Bajaj Broking, in a note, stated that the current breather should be used as a buying opportunity in quality stocks in a staggered manner.
Meanwhile, the benchmarks this week are expected to be volatile on the back concerns over the impact of the US reciprocal tariffs and potential announcements of further sector specific tariffs during the week. Focus will also be on RBI’s monetary policy outcome on April 9 and the Q4 FY25 earnings season kicking off with TCS results on April 10. (Inputs Agencies. The readers are requested not to treat it as investment advice. )