Stock Market

Among Nifty companies, 43 stocks advanced while seven declined in early trade. The top gainers included Hindalco, ICICI Bank, Axis Bank, Shriram Finance, and M&M, while HCL Tech, TCS, Tech Mahindra, ONGC, and Sun Pharma were the top losers.

Among the top performers, BinaryX (BNX) emerged as the biggest gainer, surging nearly 54 percent in the last 24 hours.

India will also get advantage of aluminium and steel tariffs imposed by the US last week. India runs a marginal trade deficit with the USD 13 million in aluminium goods, and USD 406 million in steel goods.

One major concern looming over global trade is the upcoming Reciprocal Tariffs announcement by Donald Trump on April 2nd. If India manages to negotiate postponement or exemption on key export items, markets could react positively.

The stock market has been continuously bleeding for the past few months. This has already had a significant impact on mutual funds.

Despite concerns over a potential US recession and escalating global trade tensions, market losses were cushioned by positive domestic factors such as easing consumer inflation, robust industrial output, favorable crude oil prices, and a weaker US dollar index.

Addressing shareholder concerns, Buffett defended his strategy in his annual letter and said, “Despite what some commentators currently view as an extraordinary cash position at Berkshire, the great majority of your money remains in equities.”

Among Nifty companies, 18 stocks advanced, while 31 declined, and one remained unchanged. ONGC, BEL, Tata Steel, IndusInd Bank, and Power Grid emerged as the top gainers, while Sriram Finance, M&M, Bajaj Auto, Eicher Motors, and Adani Ports were the top losers in early trading.

Experts noted that the portfolio managers are taking a careful approach to manage the uncertainty. They are keeping extra cash reserves, reducing investments in overvalued stocks, and diversifying their portfolios to avoid risks related to Trump's trade policies.

Walker forecasted a substantial depreciation of the U.S. dollar, predicting a decline of at least 10% as the American economy slows down. He pointed out that historically, economic downturns in the U.S. have led to a weaker dollar, which, in turn, could benefit emerging markets, particularly in Asia.