
Stock market today: Domestic benchmark stocks faced a downward trend on Monday as selling pressure returned to the markets following U.S. President Donald Trump’s announcement of new tariffs on China.
The resurgence of tariff disputes has once again disrupted global trade sentiment, leading to increased caution among investors worldwide. By 10:30 IST, the Nifty 50 index dropped by 75.40 points or 0.30% to reach 25,213 . 70, while the BSE Sensex fell by 224.08 points or 0.27%, starting at 82,278.93.
On Friday, U.S. President Donald Trump pledged to notably raise tariffs on Chinese goods in response to the country’s limitations on critical mineral exports.
Rising trade tensions between the two largest economies could contribute to increasing inflation in the U.S. and might cause the Federal Reserve to delay cuts to interest rates, according to experts.
High interest rates in the U.S. are detrimental to stocks in emerging markets like India, as they make investments in dollars and Treasury yields more attractive to international investors.
Nifty 50 remained firm on Friday, breaking out of its recent consolidation phase. The index continues to hold above key moving averages, keeping the short-term trend positive. The overall setup appears conducive for further upside, with any dips likely to offer fresh buying opportunities. On the higher side, Nifty 50 may advance towards the 25,500–25,550 zone, while on the downside, support is placed near 25,150. A decisive move below 25,150 could slightly weaken the prevailing bullish momentum.
Significant open interest additions were observed in 25,300 Put options, while heavy OI unwinding was seen at the 25,200 Call strike. Call writing remained relatively muted on Friday. The maximum OI buildup was recorded at the 25,500 CE strike, whereas maximum put writing was seen at the 25,200 PE strike up to Friday’s session.
Strategy: As the index has reached near its support level, a small bounce from the current level can't be ruled out.
Trade: Buy Nifty 14th Oct 25300CE Above 100 TGT 150 SL 70.
Nykaa share price has been surging with strong momentum, supported by robust demand. Any dips are being quickly bought into, with corrections remaining shallow. On the recent chart, the stock has given a strong breakout, bringing it back onto the buy radar. On the higher side, it may move towards ₹280, while support on the lower side is visible around ₹255.
IndiGo share price has moved higher after a phase of consolidation on the daily chart. The recent upmove has pushed the price above the 21 EMA, indicating a positive short-term trend. Additionally, the RSI has entered a bullish crossover, confirming improving momentum. The overall trend now appears positive, with the price likely to move towards ₹5,950, while immediate support is placed around ₹5,600.
Fedbank Financial share price has given a significant breakout on the daily timeframe, indicating rising optimism. Moreover, the price is comfortably trading above key moving averages, confirming a positive trend. The RSI is in a bullish crossover, further supporting the momentum.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
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