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Home > Stock Market Updates > Opening Bell - 17 / 04 / 25
Podcast: Stock Market Updates
Episode:

Opening Bell - 17 / 04 / 25
Category: Business
Duration: 00:02:04
Publish Date: 2025-04-17 03:39:57
Description:

Opening Bell - Morning Commentary


WTO cuts global trade outlook


U.S. equity markets closed sharply lower on Wednesday, driven by weakness in the technology sector and hawkish-leaning commentary from the Fed.


Semiconductor manufacturer NVIDIA announced that it will take a charge of up to $5.5 billion as a result of the U.S. government's decision to impose license requirements for exports to China on its chips.


Global stocks fell on Wednesday, led by tech losses. Washington imposed new curbs on AI chip exports to China, marking an escalation in the global trade war.


The Trump administration's latest trade war salvo sparked huge demand for safe-haven assets like gold, the Swiss franc and U.S. Treasuries.


Gold surged 3.4% to a new high of $3342/oz, and the Swiss franc, rallying 1% against the dollar, was the biggest gainer in the G10 FX space.


Fed Chair Jerome Powell signalled that he was not in a rush to cut interest rates.


Oil rose nearly 2% on supply concerns after the U.S. issued new sanctions targeting Chinese importers of Iranian oil.


The World Trade Organisation sharply cut its forecast for global merchandise trade from solid growth to a decline, saying further U.S. tariffs and spill-over effects could lead to the heaviest slump since the height of the COVID pandemic. WTO expected trade in goods to fall by 0.2% this year, down from its expectation of 3.0% expansion in October.


The European Central Bank is expected to cut interest rates for the seventh time in a year today, looking to prop up an already struggling economy that will take a significant hit from U.S. tariffs.


Wipro's outlook for the first quarter of the current fiscal year remains muted amid an uncertain macro environment. The company guided for a degrowth of 3.5% to 1.5% in the first quarter. Infosys will share its quarterly numbers and outlook today.


Immediate support for the Nifty is seen at 23200, while resistances are seen at 23650 and 23870.


Indian markets are likely to open subdued on the back of soft global cues.
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