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Indian stock market faces volatility as Trump announces 15 percent global tariffs, but US Supreme Court strikes them down.
Stock market cues to watch this week
Stock Market This Week: The Indian stock market is expected to see a volatile trade this week due to a combination of key factors, including Trump’s 15 percent global tariffs and the inflation print.
Benchmark indices ended on a green note last week with Sensex closing at 82,814 and Nifty at 25,571.25.
Gift Nifty is indicating a gap-up opening on Monday, February 23, after the US Supreme Court struck down Donald Trump’s high tariffs on countries globally, calling it legally invalid.
While supportive global cues may contribute to a positive start to the week, the durability of the move will depend on the Nifty’s ability to reclaim and sustain above key resistance levels. Continued institutional support and improving momentum indicators will be critical in determining whether the current rebound evolves into a sustained uptrend, said Hariprasad K, SEBI-registered Research Analyst and Founder, Livelong Wealth.
Ajit Mishra, senior vice-president (research) of Religare Broking, said, “On the upside, the 25,800-26,000 zone remains a key resistance band. A sustained move above 26,000 would be required to revive bullish momentum.”
Major Cues To Watch:
1) US Supreme Court’ Action & Trump’s Reaction
US President Donald Trump on Saturday announced an increase in the proposed global tariff rate from 10 per cent to 15 per cent. The new global tariff has been brought under Section 122 of the US trade law, commonly referred to as a balance-of-payments tariff. It allows the president to impose tariffs up to the 15 per cent limit, which can remain in effect for up to 150 days.
It came after US Supreme Court struck down the previous higher tariffs.
2) India’s GDP Data
On the domestic side, market participants are expected to keep an eye on important macroeconomic data such as GDP figures, budget updates, foreign exchange reserves, and year-on-year infrastructure growth numbers.
According to a release by the Ministry of Statistics & Programme Implementation, the upcoming quarterly GDP estimates under the New Series are scheduled to be announced on Friday, February 27.
3) FII Data
Foreign portfolio investor (FPI) activity saw a clear turnaround in February, with overseas investors emerging as net buyers in nine out of the last sixteen trading sessions through February 20.
Data from the National Securities Depository Limited (NSDL) showed that FPIs invested Rs 14,177.66 crore through secondary market exchanges during this period. Additionally, they pumped in Rs 2,733.89 crore via the primary market, taking total FPI inflows for February (till February 20) to Rs 16,911.55 crore.
Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
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