Business
Fearing rate hikes, consumers may front load purchases in niche areas: SBI Research

Customers, especially in retail verticals could be having a feel of future run expected in interest rates, and might be front loading their purchases in days to come giving a fillip to consumer demands in select niche areas, said SBI Research in a report.
The sector-wise data for April indicated that credit off-take has happened in almost all sectors. Personal loans segment continued to perform well, registering an acceleration in growth to 14.7 per cent in April 2022 and contributed around 90 per cent of the incremental credit during the month, primarily driven by housing, vehicle loans and other personal loans segments, the report said on Tuesday.
The omicron fuelled days brought the bleak memories from last year. Spike in caseloads in select developed economies scared the psyche, the scars of past coming to the fore.
Businesses caught unaware previously and braving essential commodities as well as specialised essentials like chips shortages kept the expectations short. Against that backdrop, the report said that the GDP numbers did not disappoint much and it inspired the market.
India’s gross domestic product during fiscal year 2021-22 is estimated at 8.7 per cent as compared to a contraction of 6.6 per cent in the year 2020-21, official data showed.
The GDP grew 4.1 per cent year on year in Q4FY22 as against 1.6 per cent during the same quarter of FY21.
By far, trade, hotels, transport, communication and services related to broadcasting are the only sectors which are still not out of the woods post the pandemic.
The report said these sectors will reach or cross the pre-andemic levels by Q1FY23.
The global economic outlook is marred with downside risks due to the ongoing geopolitical upheaval and its impact on trade, output and prices.
Sharp increase in most commodity prices, significant tightening of financial conditions due to frontloaded monetary policy actions and high inflation are posing financial stability concerns.
“The World Economic Outlook (WEO) has cut its global growth forecast for 2022 relative to its January 2022 projection by 0.8 percentage points to 3.6 per cent. China’s economy remained deep in a slump in May as lockdowns continued to weigh on activity. The downward revision is sharper for emerging markets and developing economies than for advanced economies,” the report added.
Business
Sensex, Nifty open lower amid weak global cues post Trump tariffs

Mumbai, April 4: Indian frontline indices opened in the red on Friday following global sell-off in the equity markets in reaction to the reciprocal tariffs announced by US President Donald Trump.
At 9:23 am, Sensex was down 544 points or 0.71 per cent at 75,750 and Nifty was down 194 points or 0.82 per cent at 23,059.
Midcap and smalcap stocks witnessed selling pressure in the early trading hour. Nifty midcap 100 index was down 669 points or 1.34 per cent at 51,464 and Nifty small 100 index was down 253 points or 1.56 per cent at 16,001.
On the sectoral front, auto, IT, PSU bank, pharma, FMCG, metal, realty and energy were major laggards. Only finance services was trading with gains.
In the Sensex pack, HDFC Bank, Bajaj Finance, Bharti Airtel and M&M were top gainers. Tata Motors, Tata Steel, L&T, IndusInd Bank, Maruti Suzuki, Reliance Industries, Sun Pharma, Infosys and Tech Mahindra were the top losers.
Following the announcement of Trump tariffs, global markets experienced jitters overnight, leading to a gap-down opening indicated by the Gift Nifty.
Selling was seen in most Asian markets. Tokyo, Bangkok and Seoul were in the red.
The US markets witnessed a massive sell-off on Thursday after reciprocal tariffs were announced. The Dow closed by nearly 4 per cent down and the technology index Nasdaq down by nearly 6 per cent.
On the institutional front, foreign institutional investors (FIIs) extended their selling streak for the fourth consecutive session on April 3, offloading equities worth Rs 2,806 crore. In contrast, domestic institutional investors (DIIs) remained net buyers for the fifth consecutive day, purchasing equities worth Rs 221.47 crore.
According to market observers, on the upside, immediate resistance is seen at 23,350, followed by 23,600 for Nifty.
“A breakout beyond these levels could trigger a continuation of the uptrend, targeting the 200 DSMA in the 24,000–24,100 range. While the index may remain range-bound in the near term, stock-specific trades are offering better opportunities, and traders should focus on individual names for potential gains,” said Sameet Chavan, Head Research, Technical and Derivative – Angel One.
National
Amit Shah to visit J&K for three days from April 6, hold security review meets

Jammu, April 4: Union Home Minister Amit Shah will be on a three-day visit to Jammu and Kashmir from April 6 to hold security review meetings and inaugurate development projects.
The Home Minister will chair two important security review meetings and will also virtually inaugurate some developmental projects.
HM Shah, as per sources, will hold a meeting with the BJP MLAs in Jammu on April 6. He will take feedback from the BJP MLAs, especially about the budget session of the Legislative Assembly, which will resume on April 7 after a 12-day break. The session is scheduled to adjourn sine die on April 9.
The performance of the BJP MLAs in the Assembly during the first budget session of the present government will come up for review during the meeting.
He will review the political situation in the union territory with the party MLAs. Shah will be in Jammu till the afternoon of April 7 and then proceed to Srinagar. He will return to Delhi on April 8. Minister of State (PMO) Dr Jitendra Singh will join the home minister in Jammu.
Amit Shah is scheduled to undertake a tour of the International Border in Jammu. He will meet the family members of police martyrs.
Two terrorists were killed, and four police personnel were martyred in the Kathua encounter last week.
In Srinagar, the home minister will chair two separate security review meetings of Unified Headquarters and the annual pilgrimage of Shri Amarnath Yatra.
He will be dedicating a number of multi-crore projects to the people of the UT through virtual inauguration and a foundation stone laying ceremony.
During Shah’s Unified Headquarters meeting, a strategy for ensuring zero infiltration and the elimination of terrorists from the mountains and forests of the Jammu region besides the Kashmir Valley will be reviewed, sources said.
Union Home Secretary Govind Mohan, MHA officials dealing with Jammu and Kashmir, heads of Intelligence agencies and paramilitary forces will also join Amit Shah in security review meetings.
The second security review meeting will be held exclusively for security and other arrangements for the annual Shri Amarnath Yatra, scheduled to start on July 3 and end on August 9.
The Home Minister will also inaugurate and lay the foundation stone of multi-crore projects virtually from Srinagar.
Chief Minister Omar Abdullah will also be joining the function for the dedication of developmental projects by HM Shah.
The CM is likely to have a separate meeting with the Home Minister.
Business
Stock market ends lower as investors take cautious approach on US tariffs

Mumbai, April 3: The Indian stock market closed lower on Thursday as investors remained cautious following US President Donald Trump’s announcement of new tariffs.
The new tariff structure includes a 10 per cent tax on all US imports, with higher tariffs on countries with a trade surplus. India will now face a 27 per cent tariff.
The Sensex fell 322.08 points, or 0.42 per cent, to close at 76,295.36. During the day, the index fluctuated between an intraday high of 76,493.74 and a low of 75,807.55.
The Nifty also ended lower, down 82.25 points, or 0.35 per cent, at 23,250.10.
“The primary catalyst for today’s decline was deteriorating global sentiment, exacerbated by US President Trump’s announcement of a 26 per cent reciprocal tariff on Indian imports, which prompted a cautious stance among investors,” said Sundar Kewat of Ashika Institutional Equity.
Tech stocks led the losses, with TCS, HCL Tech, Tech Mahindra, Infosys, and Tata Motors declining by up to 4.02 per cent.
On the other hand, Power Grid Corporation, Sun Pharma, Ultratech Cement, NTPC, and Asian Paints were among the top gainers, rising as much as 4.57 per cent.
The IT sector was the worst performer, with the Nifty IT index dropping 4.21 per cent, dragged down by Persistent Systems, Coforge, TCS, and Mphasis. Auto, oil & gas, and realty stocks also struggled.
However, pharma stocks performed well, with the Nifty Pharma index climbing 2.25 per cent. Banking, healthcare, FMCG, and consumer durables stocks also saw gains, rising up to 1.94 per cent.
Despite the overall market decline, smallcap stocks outperformed, as the Nifty Smallcap100 index gained 0.58 per cent.
Market analysts stated that investors are expected to remain watchful of global developments and their impact on market trends.
“The domestic market initially showed signs of recovery but ended with modest losses after the announcement of a relatively lower 26 per cent tariff on US imports,” said Vinod Nair of Geojit Investments Limited.
“Although the tariff presents short-term challenges, India’s economic resilience and bilateral trade agreement may help mitigate the overall impact,” he stated.
The rupee ended flat but traded in a volatile range between 85.75 and 85.35, as markets reacted to Trump’s reciprocal tariff policy.
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