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Home > Stock Market Updates > Opening Bell - 05 / 03 / 25
Podcast: Stock Market Updates
Episode:

Opening Bell - 05 / 03 / 25
Category: Business
Duration: 00:02:18
Publish Date: 2025-03-05 03:22:26
Description:

Opening Bell - Daily Morning Commentary


All eyes on Trump's Speech


US President Donald Trump will address a joint session of Congress today. He will lay out his vision in office for the next four years. The address is his first major speech to lawmakers since returning to office in January 2025. Trump's address comes as the administration seeks to reshape the federal government's functioning, crackdown on illegal immigration, and impose sweeping tariffs on countries marking one of the most significant trade escalations in modern US history.


Canada and China responded to Trump with retaliatory measures after the US decided to proceed with levies against Canada and Mexico on Tuesday.


Shares of U.S. companies were under pressure after the latest escalation in Washington's trade war. New tariffs on Canada and Mexico are expected to hit earnings in several sectors, including automobiles, aerospace, retail, and housing.


China kept its economic growth target unchanged at roughly 5% this year, committing more fiscal resources than last year to fend off deflationary pressures and mitigate the impact of rising U.S. trade tariffs. Meanwhile, China's commerce ministry "strongly" opposed the tariff measures and "hoped" that the US would handle issues objectively and rationally.


US equity markets closed lower in a volatile trading session on Tuesday as new U.S. tariffs took effect. The benchmark S&P 500 suffered its worst day of this year after the U.S. tariffs were confirmed. Stocks in the Asia Pacific region traded mixed early on Wednesday on the tariff relief signal after President Donald Trump sparked a global selloff.


On Tuesday, economically sensitive stocks such as airlines and banks led declines in Wall Street's main indexes on the new tariffs.


The U.S. dollar drooped near a three-month low versus major peers on Wednesday, while shares in Asia were mixed after the latest round of U.S. tariffs and countermeasures from Canada and China stoked fears of an escalating trade war.


The Nifty index fell for the tenth consecutive session yesterday, the longest losing run in 29 years, to close at 22082. Out of the last 19 trading sessions, only one session has ended in positive territory. Losses in Indian markets were limited compared to global and Asian peers, which saw a significant sell-off after Donald Trump confirmed tariffs on Canada, Mexico, and China. Small-cap stocks bounced back sharply after facing severe selling pressure, while mid-cap stocks ended the session with mild gains.


Nifty is highly oversold and due for a bounce. 21750-21800 could serve as a support level. On the upside, the 5 DEMA is positioned near 22260, which could act as a resistance level. Indian markets are likely to open subdued on weak global cues.
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