FIRST TRADE: Sensex falls 665 points, Nifty slips 0.9% to 23,271 as Trump tariffs weigh

Indian equities tracking anemic planetary cues started Monday's league (February 3) sharply little aft the US President Donald Trump announced tariffs connected Canada, Mexico and Chinese goods, which could effect successful retaliatory measures from these countries connected US imports. At the open, Nifty fell 0.9 per cent oregon 210.95 points to 23,271.2, portion the 30-share Sensex slumped 0.86 per cent oregon 664.46 points to 76,841.5.

Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, "Despite an fantabulous Budget the marketplace volition beryllium nether unit from the Trump tariffs and the heightened planetary uncertainty these ‘initial circular of tariffs’ has triggered.

It is important to recognize that the 25 per cent tariffs imposed connected Mexico and Canada are to punish them for issues similar migration and illicit commercialized successful fentanyl. Trump whitethorn usage tariffs again against different countries connected non-trade issues. China’s effect to the 10 per cent tariffs has been much responsible. For now, they person not reacted similar Mexico and Canada by imposing tariffs connected imports from the US. Instead, they are moving the WTO against the US action, added Vijaykumar.

Technical outlook

Anand James, Chief Market Strategist, Geojit Financial Services connected the Nifty outlook said, "Despite the comparatively beardown adjacent station Budget, the volatility done the time ensured that a lesser fig of Nifty 500 constituents were seen supra their respective 10 time SMAs, erstwhile compared to Friday. Among the F&O stocks, which are the astir actively traded, lone 56.5 per cent of stocks were seen closing supra their respective 10 time SMAs connected the Budget day, arsenic opposed to 67 per cent stocks connected Friday."

We work this arsenic a tendency to instrumentality a pause, for which reason, we shall accommodate dips to 23400 earlier the 23700-840 trajectory resumes. An outright autumn beneath 23190 could unit america wantonness the upside presumption though, added James.
 

 Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
Markets whitethorn spot a spread down opening owed to weakness successful US and Asian indices aft US President Donald Trump announced tariffs connected Canada, Mexico and Chinese goods, which could effect successful retaliatory measures from these countries connected US imports. The sentimental interaction whitethorn substance pessimism successful home markets connected fears that akin US measures could beryllium imposed connected Indian imports arsenic mentioned during his pre-election campaigns. Although planetary factors volition proceed to predominate the mood, section investors volition besides beryllium looking guardant to this week's RBI monetary argumentation announcemend its remark connected involvement rates and economical outlook.