First Trade: Indices open mixed, Sensex down 12 pts, Nifty at 22,460

Indian equities in Monday's session opened mixed despite positive Asian markets. At the open, the 30-share BSE Sensex slipped 0.02 per cent or 11.83 points at 73,817.08, while the Nifty50 index added 0.28 per cent or 62.3 points to 22,459.5

Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, "The near-term market trend is likely to be stable with a positive bias. The positive factors are the steadily declining trend in FII outflows and the outperformance of India over the US last week. This positive trend has fundamental support from the bounce back in FY25 Q3 GDP growth to 6.2 per cent, the spurt in January IIP to 5%, and the decline in February CPI inflation to 3.61 per cent."

This positive macro backdrop can support the market in the short-term but cannot sustain a rally in the market. The trade war fears are looming large on global trade and global growth. The uncertainty surrounding the reciprocal tariffs kicking in from April 2nd will certainly weigh on markets. India dubbed the ‘tariff King’ and ‘tariff abuser’ is unlikely to be spared by Trump. This will keep the market jittery, particularly the export oriented sectors will be anxious about the tariff announcements. Domestic consumption themes unaffected by tariffs will be stable, he added.
 

Asian markets

Most Asian markets in Monday's session rose cheering more stimulus from China, despite persistent stress over the possible global trade war fears. At the last count, the MSCI Asia ex Japan index was up 0.97 per cent.

Also, a rebound in the US markets seen in the previous trading session, offered support. Furthermore, investors are largely to remain on the sidelines ahead of the slew of key central bank meetings lined up this week-like the Federal Reserve and the Bank of Japan.