GIFT Nifty down 830 pts: Here's trade setup for today's session

After a week-long consolidation phase, Indian equity markets saw a sharp downturn, with benchmark indices slipping over 2.5%, dragged primarily by weak global cues and renewed concerns over a trade war. This week is packed with key domestic and global triggers. With tariff-related tensions escalating, global investors will closely track any further developments on that front.

Back home, the MPC meeting outcome on April 9 will be a major focus, followed by key macroeconomic indicators—IIP and CPI data—due on April 11. Adding to the action, the Q4 earnings season kicks off with IT giant TCS set to announce its results on April 10.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a gap-down start
GIFT Nifty on the NSE IX traded lower by 830.50 points, or 3.62 per cent, at 22,130.50, signaling that Dalal Street was headed for gap-down start on Monday.

• Tech View: Sentiment remains weak, and a further decline from the current level could trigger additional market correction. On the lower end, if Nifty falls below 22,900, it may move toward 22,676. On the higher end, resistance is seen at 23,100. A move above 23,100 would provide a clear signal for a strong uptrend.
• India VIX: India VIX, which is a measure of the fear in the markets, rose 1.14% to settle at 13.76 levels.

US stock futures tumble
U.S. stock futures opened sharply lower late on Sunday, suggesting a continuation of the two-day selloff that wiped trillions from equity values after the Trump administration's tariffs announcement last week.

Asian markets plunge
Asian stock markets plunged on Monday as fears of a global trade war saw Wall Street futures dive, and investors wagered the mounting risk of recession could see U.S. interest rates cut as early as May.

• S&P 500 futures fell 3.6% as of 9:41 a.m. Tokyo time
• Hang Seng futures were unchanged
• Japan’s Topix fell 7.6%
• Australia’s S&P/ASX 200 fell 6.1%
• Euro Stoxx 50 futures fell 4.2%

Oil slides
Oil prices slid more than 3% on Monday, deepening last week's losses, as escalating trade tensions between the United States and China stoked fears of a recession that would reduce demand for crude.

Gold falls
Gold prices continued to face turmoil on Monday, and hit their lowest levels in more than three weeks, as a wider market sell-off triggered by U.S. President Donald Trump's tariff measures impacted bullion traders.

Stocks in F&O ban today

NIL

Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.

FII/DII action
Foreign portfolio investors turned net sellers at Rs 3,484 crore on Friday. DIIs bought shares worth Rs 1720 crore.

Rupee
The rupee pared all its gains and settled 14 paise lower at 85.44 against the US dollar amid incessant foreign fun outflows triggered by worldwide sell-offs due to concerns over escalating tariff war.

FII data
The net short of FIIs increased from Rs 73,190 crore on Thursday to Rs 86,592 crore on Friday.