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Indian benchmark indices Sensex and Nifty 50 are likely to open gap-down on April 3, tracking cues from GIFT Nifty trading around 23,126 a short while ago this morning.

Weak global cues, driven by US President Donald Trump’s unexpected tariff hike, along with the Nifty F&O expiry and Foreign Institutional Investors (FII) activity, are expected to impact the sentiment of Indian stock market benchmarks, Nifty50 and Sensex, today.

On Wednesday, Trump announced reciprocal tariffs on all imports from India and other nations, describing the move as “kind reciprocal.” He criticized India’s tariff policies as “very, very tough” and imposed a 26% tariff on Indian imports—half of the 52% tariff India imposes on US products.

During his speech, titled “Make America Wealthy Again,” Trump referenced Prime Minister Narendra Modi’s recent visit to the US, stating, “He (PM Modi) is a great friend of mine, but I told him, ‘You’re a friend, but you’re not treating us fairly.’ India has been charging us 52% while we have imposed almost no tariffs for years and decades.”

On Wednesday, the 30-share benchmark index ended at 76617.44 up by 592.93 points or by 0.78 % and then NSE Nifty was at 23332.35 up by 166.65 points or by 0.72 %.

On the global front, Asian markets plunged on Thursday, after US President Donald Trump imposed hefty reciprocal tariffs on over 180 countries and territories - several of which are in the region.

US stock indexes finished higher after a choppy trading session on Wednesday, falling early and then rebounding as investors made last-minute bets to position themselves ahead of U.S. President Donald Trump's sweeping tariff announcements.

Before Trump began speaking, the Dow Jones Industrial Average rose 235.36 points, or 0.56%, to close at 42,225.32, the S&P 500 gained 37.90 points, or 0.67%, to 5,670.97, and the Nasdaq Composite climbed 151.16 points, or 0.87%, to 17,601.05

Back home, Top traded Volumes on NSE Nifty – Zomato Ltd. 59441448.00, Bharat Electronics Ltd. 52653587.00, Tata Steel Ltd. 24977582.00, Jio Financial Services Ltd. 16203186.00, Oil And Natural Gas Corporation Ltd. 15337906.00, On NSE, total number of shares traded was 355.02 Crore and total turnover stood at Rs. 79816.05 Crore

On NSE Future and Options, total number of contracts traded in index futures was 123943 with a total turnover of Rs. 20504.94 Crore. Along with this total number of contracts traded in stock futures were 1265138 with a total turnover of Rs. 73214.48 Crore. Total numbers of contracts for index options were 107411681 with a total turnover of Rs. 18669252.49 Crore. and total numbers of contracts for stock options were 5111218 with a total turnover of Rs. 312354.55 Crore.

The FIIs on 02/04/2025 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 26270.48 Crore and gross debt purchased stood at Rs. 720.16 Crore, while the gross equity sold stood at Rs. 32606.14 Crore and gross debt sold stood at Rs. 696.60 Crore. Therefore, the net investment of equity and debt reported were Rs. -6335.66 Crore and Rs. 23.56