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Sensex, Nifty open lower amid weak global cues post Trump tariffs

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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.

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PM Modi to inaugurate India Mobile Congress 2025 on October 8

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New Delhi, Oct 6: Prime Minister Narendra Modi will inaugurate the India Mobile Congress (IMC) 2025, Asia’s premier telecom and technology event, on October 8 in the national capital, Ministry of Communications said on Monday.

The four-day mega event, themed “Innovate to Transform,” will run till October 11 and is expected to showcase India’s growing leadership in the global digital and telecom space.

Union Minister for Communications Jyotiraditya M. Scindia visited the IMC 2025 venue to review the final preparations ahead of the Prime Minister’s inauguration.

Scindia also travelled to the venue and back via the Airport Metro, symbolising India’s push for modern and sustainable urban transport.

During his visit, the minister toured the exhibition area, interacted with participating startups and exhibitors, and chaired review meetings with senior officials from the Department of Telecommunications (DoT), the Cellular Operators Association of India (COAI), and other partner agencies.

Speaking to the media, Scindia said that IMC 2025 would mark a new era in global connectivity, where technologies like 5G, 6G, artificial intelligence (AI), machine learning (ML), the Internet of Things (IoT), and satellite communications would come together to shape the future.

He emphasised that the event reflects Prime Minister Modi’s vision of a self-reliant and innovative India that connects not only within but also with the world.

IMC 2025 is expected to attract more than 1.5 lakh visitors, 7,000 delegates from over 150 countries, and 400 exhibitors spread across 4.5 lakh square feet.

The event will also feature over 1,600 technology demonstrations and 100 sessions with more than 800 speakers discussing the latest developments in telecom and digital innovation.

Highlighting the scale of the event, Scindia said that IMC has grown from being a national platform to becoming a global technology congress that represents India’s digital leadership.

He added that the 2025 edition will include six major global summits — covering 6G research, artificial intelligence, cybersecurity, satellite communications, startups, and the Global Startup World Cup — India Edition.

The minister also underlined India’s achievements in the telecom sector, noting that the country now ranks among the world’s top three digital economies with 1.2 billion mobile subscribers, 970 million internet users, and the fastest-ever 5G rollout completed in just 22 months.

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Sensex rises 583 points, Nifty tops 25,000 as IT and banking stocks lead rally

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Mumbai, Oct 6: The Indian stock markets continued their winning streak for the third straight session on Monday, driven by strong buying in the IT and banking shares.

The benchmark Sensex jumped 582.95 points, or 0.72 per cent, to close at 81,790.12, while the Nifty rose 183.4 points, or 0.74 per cent, to end the day at 25,077.

“From a technical perspective, Nifty has successfully broken above the key psychological and technical resistance level of 25,000, turning the structure decisively positive,” analysts said.

“Any dip toward the 25,000 zone is expected to act as a strong support level, with immediate resistance seen at 25,200 and 25,500,” they added.

The Bank Nifty also delivered a stellar performance, opening with a gap-up and maintaining its upward trajectory through the session.

The index surged past 56,100, hitting an intra-day high of 56,164, with next resistance levels seen at 56,300–56,500, and support placed around 55,821–55,500, experts stated.

Broader markets also joined the rally, with the Nifty Midcap 100 gaining 0.89 per cent and the Nifty Smallcap 100 inching up 0.28 per cent.

In the Sensex pack, TCS, Tech Mahindra, Eternal, Axis Bank, and Bajaj Finance were the top performers, climbing as much as 3 per cent.

Meanwhile, Trent, Tata Steel, Power Grid, and Titan ended the session with losses. Among sectors, IT stocks led the gains as the Nifty IT index surged 2.28 per cent.

The Nifty Private Bank, Financial Services, and Healthcare indices also closed in positive territory.

On the other hand, Metal, FMCG, and Media shares came under pressure, slipping up to 1 per cent.

Market experts said the upbeat sentiment in IT stocks and strong institutional buying supported the overall market momentum.

“The domestic equity market ended the session on a positive note, led by gains in the financial services and IT sectors, ahead of the Q2 results,” they said.

“The banking index outperformed, bolstered by strong quarterly updates announced by large scheduled banks and attractive valuations, while hospital stocks surged following the revision of CGHS rates,” market experts added.

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SAIL fortifies Indian Navy fleet with special-grade indigenous steel

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New Delhi, Oct 6: Public sector giant Steel Authority of India Limited (SAIL) has supplied the entire requirement of special grade steel for the INS Androth, commissioned into the Indian Navy on Monday, marking a proud milestone in the country’s journey to achieve self-reliance in the defence sector.

INS Androth is the second vessel in the series of Anti-Submarine Warfare Shallow Water Craft (ASW-SWC) corvettes, the first being INS Arnala, which was commissioned on 18th June this year.

SAIL has supplied the full quantity of special grade steel – including HR Sheets and Plates – for the eight ASW-SWC, including INS Arnala and Androth, being built by Garden Reach Shipbuilders and Engineers Ltd. (GRSE).

The steel was sourced from SAIL’s plants in Bokaro, Bhilai and Rourkela. INS Androth’s commissioning underscores India’s growing maritime capabilities and the nation’s commitment to “Aatmanirbhar Bharat,” according to a SAIL statement.

SAIL had also supplied 8,000 tonnes of critical-grade steel for the country’s advanced frontline warships INS Udaygiri and INS Himgiri, which were inducted into the Indian Navy fleet in August this year.

SAIL played a crucial role in building these two advanced frigates for the Indian Navy. Partnering with Mazagon Dock Shipbuilders Limited (MDL) and Garden Reach Shipbuilders & Engineers Limited (GRSE), SAIL supplied essential critical-grade hot-rolled sheets and plates from its Bokaro, Bhilai, and Rourkela Steel Plants.

By developing and providing critical-grade steel for the Indian Navy, SAIL has made a significant contribution to import substitution and defence self-reliance, directly supporting the ‘Atmanirbhar Bharat’ and ‘Make in India’ initiatives and lessening India’s dependence on imported special quality steel for defence requirements.

Special Plate Plant at RSP alone has supplied over 100,000 tonnes of critical grade steel for defence applications like tanks, warships, and missiles, the statement said.

The commissioning of INS Udaygiri and INS Himgiri powerfully demonstrates the strength and depth of a fully indigenous defence ecosystem – from the foundational steel to the intricate design and dedicated crew.

SAIL’s enduring partnership with India’s defence sector is well-established, with a proud history of supplying critical-grade steel for iconic vessels such as the INS Vikrant, INS Nilgiri, INS Ajay, INS Nistar, INS Vindhyagiri, and INS Surat, among others. This unwavering commitment solidifies SAIL’s standing as a trusted national manufacturer and a vital collaborator in the country’s ongoing naval modernisation, the SAIL statement added.

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