GIFT Nifty:

The GIFT Nifty April 2025 futures contract is down 16 points, indicating a negative opening in the Nifty 50 index today.

Institutional Flows:

Foreign portfolio investors (FPIs) sold shares worth Rs 2,806 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 221.47 crore in the Indian equity market on 3 April 2025, provisional data showed.

According to NSDL data, FPIs have sold shares worth Rs 8128.22 crore in the secondary market during April 2025 (so far). This follows their sale of shares worth Rs 6027.77 crore in March 2024.

Global Markets:

Futures tied to the Dow Jones Industrial Average nosedived 148 points early Friday, setting the stage for a jittery open on Wall Street.

Asian market extended losses, tracking the sharp declines in U.S. equities overnight following the announcement of new U.S. tariffs. Markets in Hong Kong and China remained closed due to the Qingming Festival.

On Wednesday, U.S. President Donald Trump introduced a new tariff policy applying reciprocal rates to over 180 countries and territories. The move has heightened concerns of a potential global trade conflict, prompting a broad-based sell-off in equities.

Overnight in the U.S., the three major averages plummeted. The S&P 500 slid back into correction territory, dropping 4.84% to 5,396.52. The Dow Jones Industrial Average tumbled 1,679.39 points, or 3.98%, to close at 40,545.93 and the Nasdaq Composite fell 5.97% to end at 16,550.61, logging its biggest decline since March 2020.

Apple Inc. shares declined more than 9% amid investor concerns over the impact of the new 54% tariff on Chinese imports. As Apple relies heavily on Chinese manufacturing and global supply chains, the tariffs are expected to increase production costs, potentially pressuring profit margins or leading to higher consumer prices.

Retailers were also hit hard, with Nike Inc stock falling more than 14%. Meanwhile, plane maker Boeing Co shares declined 11%. Tesla Inc shares closed 5.5% lower, while NVIDIA Corporation lost 8%.

Investors are now focused on the upcoming U.S. payrolls report and a speech from Federal Reserve Chair Jerome Powell for further insight into the labor market and potential implications for monetary policy.

Domestic Market:

Key equity benchmarks closed with modest losses yesterday as a global sell-off followed President Trump's steeper-than-expect tariff hike. IT stocks took a hit on growth concerns and potential cuts in client spending, while pharma stocks outperformed after being spared from the new tariffs.

The Nifty recovered from its intraday low of 23,145.80 to close above 23,250. Despite the downturn, India's stock market fared better than global peers, thanks to a relatively lower tariff burden'27% versus steeper levies on China (54%), Vietnam (46%), Bangladesh (37%), Thailand (36%) and Pakistan (29%). This competitive edge helped cushion the impact on Indian equities.

The S&P BSE Sensex tumbled 322.08 points or 0.42% to 76,295.36. The Nifty 50 index shed 82.25 points or 0.35% to 23,250.10.

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