Stock market news: The main stock indices in India, Nifty 50 and Sensex, are likely to experience a boost in trading sentiment on Friday due to an impressive rally in international markets following US President Donald Trump’s announcement to suspend tariff increases for 90 days, with the exception of China. The Indian stock market was closed on Thursday in observance of Shri Mahavir Jayanti.

Trump has announced a three-month halt on reciprocal tariffs for countries that are not retaliating, marking a surprising reversal after the record-high tariffs he previously imposed triggered a slide in global stock markets.

Global markets reacted with enthusiasm following Trump’s decision to freeze his aggressive tariff increases for three months.

In Asian markets, Tokyo’s Nikkei 225 index surged by 9.13%, South Korea’s Kospi rose by 6.60%, Hong Kong’s Hang Seng increased by 2.06%, and the Shanghai SSE Composite index grew by 1.16%. European markets also welcomed the news, trading significantly higher.

Nifty 50 and Sensex reported a decline on Wednesday, which mirrored a downturn in global markets driven by US President Donald Trump’s tariffs, as the anticipated rate cut and dovish approach from the Reserve Bank of India (RBI) did not enhance market sentiment.

The Nifty 50 dropped by 0.61% to settle at 22,399.15, while the Sensex fell by 0.51% to conclude at 73,847.15.

Pranay Aggarwal, Director & CEO of Stoxkart, mentioned that Indian markets may witness some recovery the following day, spurred by optimistic expectations from this 90-day suspension.

Despite the temporary relief provided by this pause, sectors directly affected by the tariffs, like pharmaceuticals and seafood exports, still face difficulties.

Investors are encouraged to keep a close eye on ongoing trade discussions and specific sector updates to navigate this period of global uncertainty.

Nifty 50 Outlook by Osho Krishan, Sr. Analyst, Technical & Derivatives, Angel One

The market breadth has exhibited a slight inclination towards bearish sentiment, as bullish participants have opted to adopt a more reserved stance in light of the upcoming mid-week holiday. The appearance of a small-bodied candlestick, emerging after two days of significant price fluctuations, suggests a developing sense of stability among domestic investors, who are carefully assessing their positions.

However, the technical dynamics of the Nifty 50 index, resting near a descending trendline, signal a potentially challenging environment for market participants. Given this context, it is prudent to maintain a cautious approach until the overall market conditions show signs of stabilization.

On the levels front, the bullish gap located around 22,300-22,250 is anticipated to serve as a protective barrier against potential declines, effectively mitigating the impact of adverse market trends. This is further supported by the critical support level at 22,000. On the upper end, a series of resistance levels can be identified, beginning with the sloping trendline near 22,500-22,600, followed by the bearish gap at 22,700-22,850. A definitive breakthrough above these resistance levels could restore investor confidence and indicate a positive shift in market sentiment.

As we proceed, it is imperative to acknowledge the prevailing global uncertainties, in conjunction with the commencement of the quarterly domestic earnings season. The earnings report from IT giant TCS will play a pivotal role in shaping the market outlook in the immediate future. Consequently, it is advisable to remain well-informed about both global and domestic developments to achieve a comprehensive understanding of the broader economic landscape.

Stocks To Buy on Friday – Osho Krishan

On stocks to buy on Friday, Osho Krishan of Angel One recommended two stocks –ACC Ltd, and Colgate Palmolive (India) Ltd.

ACC Ltd

ACC has shown impressive growth, climbing nearly 200 points in the last few trading weeks. This surge has been accompanied by an increase in average trading volumes, which suggests that market interest is building and points to the possibility of a reversal in its trend. Also, the stock has surpassed its 51 DEMA after a long period. Additionally, the 14-period RSI has risen above its previous swing high, reinforcing the bullish momentum surrounding the stock. Overall, these technical indicators suggest that ACC may be entering a period of sustained growth, making it an intriguing option for those looking to invest.

Hence, we recommend to BUY ACC around ₹1,980-1,960 keeping a stop loss of ₹1,870 for a potential Target of ₹2,150.

Colgate Palmolive (India) Ltd

Colgate Palmolive has encountered substantial challenges and a downward trend in the trading market over the past several months. However, a notable shift has recently occurred, as the stock has started to gain momentum and has approached the 50-day exponential moving average (DEMA) after an extended period of decline. This development indicates a potential early sign of a countertrend. Furthermore, this bullish pattern is supported by significant trading volumes, which enhance the overall positive outlook. Additionally, the 14-period Relative Strength Index (RSI) has surpassed its previous swing high, confirming a higher high formation and reinforcing the bullish sentiment.

Hence, we recommend to BUY Colgate Palmolive around ₹2,500 keeping a stop loss of ₹2,400 for a potential Target of ₹2,700.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.