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Home > Stock Market Updates > Opening Bell - 22 / 04 / 25
Podcast: Stock Market Updates
Episode:

Opening Bell - 22 / 04 / 25
Category: Business
Duration: 00:02:19
Publish Date: 2025-04-22 03:30:01
Description:

Opening Bell - Morning Commentary


Trump's Fed Criticism Rattles Markets


Amid escalating trade tensions, President Donald Trump intensified his public criticism of Federal Reserve Chair Jerome Powell on Monday, labelling him "a major loser" and "Mr. Too Late" for not lowering interest rates faster.


This persistent critique unsettled financial markets, already grappling with trade war uncertainties. US stocks experienced steep losses, with major indexes shedding significant value, as investor concerns mounted over the potential erosion of the Federal Reserve's independence from political influence.


Simultaneously, the US dollar extended its decline against international currencies, and Treasury bond yields increased, reflecting market anxiety. There was also apprehension that the Fed might become reluctant to ease policy further if such actions were perceived as bowing to political pressure.


Most European markets remained closed for the Easter Monday holiday.


Asian stocks retreated at the open after President Donald Trump's criticism of Federal Reserve Chair Jerome Powell raised concerns about central bank independence and triggered a selloff in US assets.


US assets showed signs of stabilisation in early Asian trading as equity-index futures built on a late Monday rally. The dollar index recovered after touching a 15-month low, while 10-year Treasury yields inched higher.


Tensions between the US and China escalated as Beijing cautioned other nations against making agreements with the United States at China's expense, further intensifying the tariff dispute between the world's two largest economies.


The Ministry of Finance announced the imposition of a 12 per cent provisional safeguard duty on certain steel products to protect the domestic industry from injury caused by a recent spike in imports of such products. The duty came into effect immediately for a period of 200 days — unless revoked.


RBI has relaxed some requirements of the new LCR framework. That will likely free up lendable assets of ~Rs 3 trn, or 1.9% of banks' loans. Bank stocks have led the markets higher, and we continue to favour them on declines.*


In the last eight trading sessions, the Nifty has risen more than 2400 points from the recent swing low of 21743. It rose for the fifth consecutive session yesterday and added a further 1.15% to the tally, closing at 24125. The previous swing high of 23870 is now expected to support the Nifty. On the higher side, immediate resistance is seen at 24226 and 24546.


As we noted yesterday, Indian markets are expected to remain largely unperturbed by the issues in US markets and continue to see strong buying interest, particularly in smaller stocks.
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