The global trade war is on the front pages.

*Review & Preview @4PM —— Monday, February 3rd 2025*

NIFTY (-121, 23361)
Sensex (-319, 77187)
Bank Nifty (-296, 49211)

# Nifty receives drubbing as Trump administration imposes new US tariff against Mexico, Canada and China.

# Trump imposed 25% tariffs on Canada and Mexico and 10% on China.

# In response, Canada announced retaliatory tariffs, while Mexico indicated it would consider imposing its own levies on US goods. China, in turn, stated its intention to file a lawsuit with the WTO.

# Long story short: The global trade war is on the front pages.

 

# The negative takeaway from today’s trading session was that capex-linked stocks, primarily those involved in railway, defense and infra sectors continued to see selling pressure.

# Underperforming Railway Stocks: Titagargh Wagons, Rites, Texmaco Rail, RVNL, IRCON International and Jupiter Wagons

# Underperforming Defence stocks: BDL, GRSE, HAL, BEL

# Underperforming Infra Stocks: IRB Infra, L&T, NCC.

# That’s on backdrop of Finance Minister Nirmala Sitharaman’s Union Budget 2025-26 which emphasized on economic growth to rely more on boosting consumption in a slowing economy rather than firing the capex engine.

The revised capex projection for FY25 has been reduced to Rs 10.18 lakh crore, down from the initially allocated Rs 11 lakh crore. For FY26, the allocation was slightly raised to Rs 11.2 lakh crore, still falling short of the industry’s expectation of Rs 11.5 lakh crore.

# Outperforming Stocks: Bajaj Finance, Shriram Finance, Mahindra & Mahindra, Wipro, and Bajaj Finserv

# That’s on backdrop of FM Nirmala Sitharaman emphasizing on economic growth to rely more on boosting consumption in a slowing economy rather than firing the capex engine.

# Meanwhile, the FIIs continue to be on a selling spree. (This CY so far, FIIs have sold to the tune of Rs. 88,702 crores).

 

# Technical Overview:

# Technically, confirmation of strength only above Nifty’s biggest hurdles at 24012 mark which is also the benchmark’s 200 DMA.

Until, Nifty 24012 is a resistance, downside risk on Nifty seen at 22786 and then at 21281 mark at June 4th low.

# Outperforming Nifty Sectors:
NIFTY IT (+0.59%)

# Underperforming Nifty Sectors:
Nifty PSE (-3.01%)
NIFTY ENERGY (-2.83%)
NIFY OIL & GAS (-1.97%)

# Adv-Dec 16—35
# INDIA VIX 14.35 (+1.77%)
# NIFTY PCR (06th FEB) 0.74
# NIFTY PCR (27th FEB) 1.14

# Bulls of the day:
BAJFINANCE (+5.12%)
SHRIRAMFIN (+3.06%)
M&M (+3.00%)
WIPRO (+2.72%)
BAJAJFINSV (+2.32%)

# Bears of the day:
L&T (-4.69%)
TATACONSUM (-3.07%)
HEROMOTOCORP (-2.98%)
COALINDIA (-2.88%)
BEL (-2.84%)
(Source NSSEINDIA.com)

 

 

 

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