Indian Stock Markets on Edge Amid Tariff Tensions

The Indian stock markets opened slightly higher with gains in banking and IT stocks. Traders are awaiting U.S. tariff announcements. Major gainers include Tata Consumer and Tech Mahindra, while HUL and Reliance Industries saw losses. Experts foresee uncertainty but are conserving capital as markets eye potential tariff impacts.

On Wednesday, the Indian stock markets opened with marginal gains, particularly in banking and IT sectors, as traders keenly awaited the looming U.S. tariff announcements set for April 2. The Sensex witnessed a rise to 76,136.09, gaining 111.58 points or 0.15%, while the Nifty stood at 23,196.20, up by 30.50 points or 0.13%.

The National Stock Exchange saw notable performances from Tata Consumer, Trent, and Tech Mahindra, among others, marking them as the morning's top gainers. Conversely, HUL, HCL Technologies, and Reliance Industries opened with losses. Market analyst Ajay Bagga cautioned that "Liberation Day" would not shield the markets from the uncertainties, rollbacks, retaliations, or the specter of a full-blown trade war as traders hold a wary outlook.

Bagga further noted that though the markets have assessed potential impacts, India is bracing for a 20% tariff from the U.S., which will necessitate prolonged negotiations. Akshay Chinchalkar, Head of Research at Axis Securities, commented on the Nifty's faltering recovery, hinting at potential support zones. Overall, experts highlighted the forthcoming Trump tariff announcement as a focal event, aiming for concessions and exclusions to stabilize the market volatility.

(With inputs from agencies.)