Stock Market Today Opening: Nifty, Sensex Make a Choppy Start; Tata Motors, Motherson, JB Chemicals Top Losers

Stock Market Today Opening: The Indian stock market witnessed a choppy start of Wednesday's trading session. Nifty 50 and BSE Sensex were trading in red during the pre-market session, however the two benchmark indices recovered after the opening session.
Most of the heavyweights including Larsen & Toubro, Infosys, Powergrid, HDFC Bank, ICICI Bank, ITC, TCS, Maruti Suzuki, etc kickstarted Wednesday's trading session on a positive note. BSE Bankex and Nifty Bank showcased a strong start of the day. Meanwhile, Nifty Auto Index slumped after United States President Donald Trump announced 25% tariffs on car and car parts from overseas.

Stock Market Today

Nifty 50 was up 30 points as it opened at 23516.80 points on Thursday. Meanwhile, S&P BSE Sensex rose marginally higher and opened at 77409.70. Other sectoral indices including Nifty Bank, etc also opened strong. However, Tata Motors, Motherson, JB Chemicals emerged as the top losers with their shares trading as low as 4% during the early trading session today.

On Wednesday, the S&P BSE Sensex closed 0.93% lower at 77,288.50 points. Whereas, NSE's NIFTY 50 Index fell 181 points to close at 23,486.85 points on Wednesday.
The benchmark indices declined on Wednesday amid apprehensions around trade tariffs. NSE and BSE also booked some profit after the stock market witnessed its best gains last week. During Wednesday's trading session, around 2,303 stocks declined out of 2,985 stocks traded. Amid a sluggish market, foreign institutional investors (FII) turned net buyers for the fourth consecutive session on Wednesday. FIIs bought equities worth Rs 5,371.57 crore on a net basis on Wednesday.

US Stock Market

U.S. stock Market on Wednesday declined as investors are keenly observing development around trade tariffs, announced by Donald Trump. These tariffs will be implemented on 2 April, but the US President has hinted that he would provide some relaxation on the tariffs.
The S&P 500 fell 1.2% and ended at 5,712.20, while the Dow Jones Industrial Average plummeted by 132.71 points, or 0.31% and closed at 42,454.79 points. Nasdaq Composite also declined by 2.04% and closed at 17,899.01. Tech giant Nvidia's shares declined by nearly 6% before US stock market closing today.

Stocks in Focus Today

Ashok Leyland, Wipro, TCS, HDFC Bank, IndusInd Bank, etc will be in focus during Thursday's trading session.

Ashok Leyland

Indian giant Ashok Leyland shared will be in focus today as the heavy vehicle manufacturer recently announced its electric subsidiary will close one of its plants in UK. The move is likely to turn its UK business profitable.

Tata Motors, Samvardhana Motherson

Shares of Tata Motors and Samvardhana Motherson International Limited were in pressure on Thursday after United States President Donald Trump earlier announced 25% tariffs on cars and auto parts exported from outside America. Tata Motors shares were trading nearly 5% lower during early trade, whereas Somvardhana Motherson scrip was down nearly 3 per cent.

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NBCC

NBCC shares surged nearly 2% on Thursday after the company announced that it has entered into an MoU with Mahatma Phule Renewable Energy and and Infrastructure Technology (MAHAPREIT) to jointly work on infrastructure projects in Maharashtra.

Stock Market Outlook for Today

Downturn in the Indian stock market on Wednesday came after investors engaged in profit booking and were consciously tracking the development related to Donald Trump tariffs, set to come into effect from 2 April.

According to Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd, there will be special focus on US-India trade meet set to begin today as it will involve negotiations on a Bilateral Trade Agreement between India and US.

"There would be continued nervousness around the meeting outcome till its conclusion on Saturday. The broader market witnessed selling pressure for the second consecutive day as Nifty Midcap100 and Smallcap100 indices declined by 0.7% and 1% respectively," said Khemka.

Commenting on the performance of different sectors, Khemka added, "Oil & Gas, Realty and Banking indices plunged between 1-2%, followed by Pharma and Healthcare indices which fell by 1% each on tariff-related concerns. Investor sentiments were further dampened by a sharp decline in US consumer confidence in March, which fell to a 4-year low of 92.9 from 100.1 in the prior month amid ongoing concerns about a tariff-induced slowdown. On the positive side, FII buying sustained for the fourth consecutive session on Tuesday with inflows of Rs5370 crore, which provided some relief to the market. We expect the market to remain range-bound with stock/sector specific action on the back of developments around the US India trade meet during the week."

According to analysis by Prabhudas Lilladher' PL Capital, Nifty would have the major and crucial support zone near 23,000 support zone with the 50 EMA positioned near 23100 levels and would need to sustain above this indicator to maintain the overall sentiment intact. BankNifty would have the daily range of 50,800-51,800 levels.