Trump tariffs, March auto sales among 8 factors that could determine D-Street movement this week
Nifty ended March on a strong note, gaining 6% during the month, led by banking and financial stocks. When markets resume trading on Tuesday, several important domestic and global events lined up for the week are likely to impact them.
Indian stock markets will remain closed on Monday due to Eid-Ul-Fitr.
On Friday, Nifty closed at 23,519.35, down by 72.60 points or 0.31%.
Nifty remained volatile on the first day of the new series before closing weaker. It made a high near the previous swing of 23,800 before entering a consolidation phase, said Rupak De, Senior Technical Analyst at LKP Securities.
«If Nifty holds above 24,200, it may witness further upside. On the other hand, if it does not fall below 23,400, it might rise towards 23,600 and beyond,» De added.
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Factors that are likely to impact movement when markets reopen this week:
1) Trump Tariffs
April 2 will be the day when Trump tariffs kick-in and the direction of the global markets including India, will likely take cues from the announcements.
2) US Markets
Indian markets will also take cues from Wall Street which ended with strong cuts on Friday. Dow 30 closed at 41,583.90, declining by 715.80 points or 1.69% while the S&P 500 finished 112.37 points or 1.97% lower at 5,580.94. Nasdaq Composite, which has been the biggest laggard among major Wall Street indices closed at 17,323.10, witnessing a 481.04 points or 2.70% fall.
3) March Auto sales
Domestic auto companies will announce their March sales numbers on April 1, Tuesday.
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