The Nifty Midcap and Smallcap indices opened trading session on a positive note with about 1-2% gain as of 9:45 am on April 8. The broader markets rebounded from the previous session's sharp selloff as bargain hunting and a broader recovery across Asia lifted sentiment amid hopes of US tariff negotiations.
Nifty Midcap 100 is witnessing some of the top gainers as BSE Limited (4.45%), IREDA (4.03%), and PB Fintech (3.92%), as of 9:45 am. With financials leading the chart, Bank of Maharashtra, SBI Card and LIC Housing Finance were trading with a gain of 3.3% to 3.6%.
Nifty Smallcap 100 has some of the top gainers as Angel One (5.79%), MCX India (4.88%), and PNB Housing Fin (4.48%), as of 9:45 am. Followed by Kaynes Tech, Titagrah and Karur Vasya trading at a gain of about 4 to 4.50%.
"While the extent of trade war pain is unclear, monetary policy may have to do the heavy lifting in India. FY26 growth and inflation risk are skewed to the downside. However, we do not see RBI front-loading its ammunition, rather it may keep it ready for rain(ier) days," mentions a note by Emkay Global Financial Services.
Indian equities are experiencing turmoil all though the damage is somehow being mitigated by India's strong domestic markets and overall macros. BSE Midcap and Smallcap have opened the trading session at a gain of about 1 to 1.50%.
Globally, escalating fears of tariff retaliations against the United States have raised concerns, as we await the next phase of the US-China negotiations. This marks the third bear market since 2020 - with all three triggered by government interventions instead of inherent economic weaknesses.
Negative global cues led the 'Black Monday' market with Nifty witnessing the highest single-day slump since June 4, 2024. More than 500 stocks hit lower circuit and over 750 stocks dropped to 52-week low. At closing, Nifty was lower by 742 points while BSE Sensex recovered 1,713 points from intraday low, then closed at 73,138. As per analysts, short-term texture of the market is still on the weak side.
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