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Home > Stock Market Updates > Opening Bell - 27 / 03 / 25
Podcast: Stock Market Updates
Episode:

Opening Bell - 27 / 03 / 25
Category: Business
Duration: 00:02:21
Publish Date: 2025-03-27 03:23:58
Description:

Opening Bell - Morning Commentary


Wall Street ends down sharply on tariff worries


U.S. equity markets experienced a notable downturn, breaking a three-day winning streak. Equity-market weakness was primarily concentrated in growth sectors of the market following a report that NVIDIA could face more stringent regulations in China, which weighed on sentiment for the broader technology sector. The S&P 500 index declined 1.1%, settling at 5,712 points, while the technology-heavy NASDAQ Composite suffered a more pronounced slide, dropping 2% to close at 17,899.


U.S. stock futures fell on Wednesday evening after President Donald Trump said he will impose tariffs on automobile imports, while technology stocks sank on some doubts over artificial intelligence demand.


U.S. President Donald Trump on Wednesday unveiled a 25% tariff on imported cars and light trucks starting next week, widening the global trade war he kicked off upon regaining the White House this year in a move auto industry experts expect will drive up prices and stymie production. After the announcement, U.S. automakers lost ground - General Motors slumped 6%, while shares in Ford fell almost 5%.


On the economic front, durable goods orders rose by 0.9% in February, above expectations for a -1% contraction. The stronger-than-expected February reading followed a robust 3.3% monthly gain in January, likely driven by companies attempting to front-run tariffs by placing goods orders before tariffs take effect.


Asian shares skidded with Wall Street on Thursday after U.S. President Donald Trump announced new tariffs on all auto imports, ratcheting up a global trade war that risks fuelling inflation.


In currency markets, the dollar index, rose 0.5% overnight to 104.7, the highest in three weeks.


After a seven-day rally, the Indian stock market paused on Wednesday. The market's momentum stalled as traders digested recent gains and assessed geopolitical uncertainties.


The Nifty has retreated more than 400 points from its recent high of 23,869 but remains positioned above key moving averages. Immediate support is placed near 23,400, coinciding with 100 and 200-day exponential moving averages. A strong support exists at 23,141, representing a 38.2% retracement of the recent up move. Potential resistance levels are anticipated at 23600 and 23869.


On the final day of the financial year, tax loss harvesting will trigger a series of price fluctuations, as some investors will choose to sell underperforming assets to offset capital gains and minimize tax liabilities.


Indian markets are likely to open subdued today on soft global cues.
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