Shares of IT companies fell up to 3% on April 1, ahead of President Trumps announcement on reciprocal tariffs. Mphasis dropped the most at 3%. For the upcoming Q4 earnings, broker Motilal Oswal expects weak performance for large firms like Infosys and TCS, but recommends Tech Mahindra and Coforge for their strong growth outlook.
Indian markets ended flat on Friday, with gains in Reliance Industries offsetting losses in IT stocks amid cautious market sentiments. Global uncertainties due to U.S. tariffs and trade policy concerns weighed on investor sentiment. While Nifty showed short-term potential, analysts suggest focusing on large caps and fundamental stocks for future growth amidst ongoing market volatility.
The Indian market extended its winning streak to a third session, driven by gains in financials and Reliance Industries. Positive sentiment followed softened U.S. inflation data, boosting hopes for a Federal Reserve rate cut. Wall Street also saw strong earnings reports, further enhancing market sentiment.
In the sectoral indices, Nifty FMCG, Nifty Pharma, and Nifty PSU Bank opened with a marginal decline, while other indices, including Nifty IT, Media, Metal, Realty, Bank, and Auto, gained in the opening session.