Mumbai (Maharashtra) [India], March 31: The Indian stock markets remained closed on Monday in observance of Eid-ul-Fitr, while major Asian markets experienced significant selling pressure.
At the time of reporting, Japan's Nikkei 225 had plunged by 4 percent, Taiwan's Weighted Index had declined by 2.97 percent, and South Korea's benchmark index had dropped by over 2.5 percent, reflecting widespread investor concerns.
On Friday, Indian markets closed in negative territory, with the Nifty settling at 23,519 points after shedding 72 points, while the Sensex declined by 0.25 percent to close at 77,414. The market pressure is primarily attributed to U.S. President Donald Trump's tariff policies, which, despite being factored into market sentiment, continue to create uncertainty. Investors are now seeking further clarity on the impact of these tariffs, which are set to take effect on April 2. The coming days will be crucial in determining the long-term market response to these policy changes.
Foreign Portfolio Investors (FPIs) remained net sellers in the Indian markets for the third consecutive month in March. Data from the National Securities Depository Limited (NSDL) indicated that FPIs offloaded equities worth Rs 3,973 crore in March, following sales of Rs 78,027 crore in January and Rs 34,574 crore in February. Despite fueling a previous bull run, FPI activity has contributed to the market's recent downturn, with the benchmark Sensex currently trading nearly 8,500 points below its all-time high of 85,978. However, the pace of FPI sell-offs has moderated in recent sessions.
"Despite Friday's market decline, the substantial recovery witnessed in the latter half of March, driven by strong FPI inflows, has allowed major indices to conclude the fiscal year 2025 with notable gains," said Sunil Gurjar, SEBI-registered research analyst and founder of Alphamojo Financial Services.
He further noted, "Currently, prices are trading between a key hurdle and support level, struggling to break the crucial resistance at 23,800. A breakout above this level would signal a continuation of the sector's uptrend. Additionally, the technical indicators show that prices are trading above all key moving averages, further reinforcing an optimistic outlook."
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