Business News

The new fiscal year has commenced on a subdued note, largely driven by US President Donald Trump altering global trade structures. India bore some of the pain with higher-than-anticipated tariffs.The broader market showed a mixed trend with 23 smallcap stocks falling in double-digits. But at the same time 54 of them saw double-digit gains. On the losers side, Pokarna, Garware Hi-Tech Films and Avanti Feeds fell up 34% during the week. On the other hand, NACL Industries, Valiant Organics, Hester Biosciences rose up to 42%.In the midcap segment, nine stocks including Punjab and Sind Bank, Coforge, UCO Bank among others have risen in double digits. While Punjab Bank fell 35%, Coforge and UCO Bank declined 18% and 16% each, respectively.During the week, sectors like IT and metals have underperformed relative to the broader market, reflecting growing concerns over the outlook for the US economy and potential retaliatory trade actions by other countries.Among the Sensex pack, HCL Technologies, Tata Steel, Tata Motors Tata Consultancy Services were the biggest losers, falling up to 10%.Going forward, investors are expected to closely monitor any countermeasures implemented by global trade partners, which could further exacerbate geopolitical and economic uncertainty.This cautious sentiment is reflected in the sustained rally in gold and bond prices, underscoring a pronounced shift toward safe-haven assets.The tariffs imposed on India are relatively lower compared to those on other Asian economies, offering a degree of relief. Any constructive developments arising from the ongoing India–US bilateral trade negotiations could serve as a supportive catalyst for the market.Investor attention is also firmly fixed on the upcoming MPC meeting, with the benchmark interest rate decision expected next week.Analysts say a favourable outcome could benefit rate-sensitive sectors. In addition, key macro indicators like India’s inflation figures and US jobless claims will be closely watched. The market focus is also gradually shifting toward the upcoming corporate earnings season."The initial outlook remains subdued, with the risk of further downward revisions to earnings growth, largely due to tepid demand and continued margin pressures. The IT sector, in particular, is expected to report soft numbers, and investor sentiment will hinge heavily on management commentary," said Vinod Nair, Head of Research, Geojit Investments.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)