Sensex, Nifty to open higher ahead of Trump’s tariff action; Swiggy, Siemens, Coal India, Tata Steel shares in focus

Indian equity benchmarks Sensex and Nifty50 are expected to see gap-up opening on Wednesday after sharp selling in the previous session, tracking mixed cues from global peers. The market may see another volatile session amid persistent uncertainties around U.S. President Donald Trump’s tariff policies, which will be unveiled by him during an event in the White House Rose Garden this evening. At 8:20 AM, GIFT Nifty Futures were up 41 points at 23,327, indicating a positive opening for domestic equity markets.

On Tuesday, the Indian equity market started the financial year 2025-26 on a shaky note, with benchmark indices falling nearly 2% in intraday trade amid concerns about economic impact of the U.S. President Donald Trump’s reciprocal tariffs to be implemented from April 2. The BSE Sensex index slumped 1,390 points, or 1.80%, to close at 76,025, and the NSE Nifty50 settled 354 points, or 1.50%, down at 23,166.

Out of 30 stocks on the BSE Sensex pack, barring IndusInd Bank and Zomato, all index heavyweights settled in negative terrain, with HCL Tech, Bajaj Finserv, Infosys, HDFC Bank, and Bajaj Finance falling in the range of 3-4%.

Foreign portfolio investors (FPIs) turned net seller in Indian equities, offloading shares worth ₹5,902 crore on Tuesday, while domestic institutional investors (DIIs) net purchased stocks worth ₹4,323 crore.

U.S. stocks end higher as investors await clarity on tariffs

Extending gains for the second straight session, U.S. stocks ended higher in a volatile trading session on Tuesday as traders awaited clarity on President Donald Trump’s impending tariff announcements. Despite weaker than expected economic data, markets managed to close above the base line as investors rushed to buy beaten down stocks ahead of the tariff policy rollout. The S&P 500 rose 0.38%, while the Nasdaq Composite added 0.87%. The Dow Jones Industrial Average closed marginally lower by 0.03%.

Asian stocks trade mixed ahead of tariff announcements

Equity markets in Asia-Pacific region witnessed muted trading as uncertainty around the U.S. tariff announcement has dented sentiments, making it difficult for market participants to take risk. In the early morning trade, Australia’s ASX200 ended 0.15% higher, while Japan’s Nikkei 225 and South Korea’s KOSPI traded lower with marginal losses. Hong Kong’s Hang Sang fell 0.15%, and Singapore’s Straits Times dropped nearly 0.5%, while Taiwan’s Weighted stock index and China’s Shanghai Composite gained in the range of 0.15-0.25%.

Stocks to watch

Tata Steel: The Tata group company has acquired 1,24,90,000 equity shares worth ₹12.49 crore in the Indian Foundation for Quality Management (IFQM).

Biocon: The board of the biopharmaceutical company, founded by Kiran Mazumdar-Shaw, will meet on April 4 to consider the fundraising via issuance of commercial papers.

JSW Energy: The power company has added 3.6 GW of generation capacity during FY25, registering the highest annual capacity addition.

Coal India: The state-owned company has announced the enhancement of coal price by ₹10 per tonne (i.e., from the existing ₹10 per tonne to ₹20 per tonne for non-coking and ₹10 per tonne for coking coal for regulated and non-regulated sectors across Coal India), effective April 16.

Power Grid Corporation of India: The board of the PSU company will meet on April 4 to consider fundraising by issuance of NCDs.

Siemens: The Mumbai branch of National Company Law Tribunal (NCLT) has approved the demerger of the company's energy business to Siemens Energy India.

Tata Consumer Products: The Tata group company has received a tax order of ₹262.08 crore for the financial year 2021-22.

Swiggy: The online food delivery company has received an income tax demand of ₹158.25 crore for the assessment year 2021-22 from the Deputy Commissioner of Income-tax, Bangalore. 

Vaibhav Global: The manufacturer of fashion jewelry and lifestyle accessories has received a draft assessment order of ₹205 crore for assessment year 2022-23 from Income Tax Department, Jaipur.

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