FIRST TRADE: Sensex adds 201 points, Nifty at 23,107; ICICI Prudential down over 7%

Indian equities successful Wednesday's commercialized tracking affirmative Asian markets opened higher. At the open, Sensex gained 0.27 per cent oregon 200.99 astatine 76,039.35, portion the Nifty gained 0.36 per cent oregon 82.75 astatine 23,107.4. Meanwhile, broader markets underperformed the header indices, with some the Nifty Midcap 100 and Nifty Smallcap 100 indices down up to 1 per cent.

Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, "President Trump’s orders and announcements, truthful far, person been disruptive. He is doing pugnacious talking initially to nonstop the connection that much stern measures are successful the offing. Trump’s menace to enforce 100% tariffs connected BRICS if they effort dedollarization is simply a repetition of his predetermination run rhetoric. It appears that the markets took this menace excessively seriously.
Nifty is down astir 12% from the 2024 September highs.

The correction provides a bully accidental for semipermanent investors to bargain prime stocks, which are present disposable astatine just valuations. The cardinal to occurrence volition beryllium patience, helium added.

Technical outlook

Anand James, Chief Market Strategist, Geojit Financial Services connected the Nifty outlook said, "Though the bearish engulfing candle calls for hold successful downtrend, aiming astatine 22840 initially, the consolidation successful the closing hr which was dispersed crossed broader markets leaves capable country for a betterment propulsion today, either to 23220 oregon 23430."

Hopes of specified upswings would beryllium negated if aboriginal trades neglect to interval supra 22940, helium added.

Asian markets

Most of the Asian stocks were up successful aboriginal commercialized connected Wednesday, with exertion shares taking the pb pursuing the announcement of a concern by OpenAI for establishing much AI infra successful the US. The cardinal MSCI Asia ex Japan index, meantime traded steady, with a positive bias astatine 571.72.

Nevertheless, China and Hong Kong markets stocks suffered a stroke aft US President Donald Trump raised the imaginable of accrued commercialized tariffs connected China arsenic aboriginal arsenic February.