The following day, purchasing manager indexes from Japan to Europe to the US will offer the first coordinated glimpse of manufacturing and services activity since Trump s global tariffs-now partly on hold-were unleashed on April 2. Business surveys from major economies are also on the calendar.

For a sample of 412 companies, excluding banking, financial services and insurance (BFSI), three out of every four companies have earned returns over the past month and nearly half of them trade above their year-ago levels. However, 56% and 53% of them are still available at lower price-earnings (P/E) multiples compared with the three-year and five-year average valuations.

Equity market participants have had a roller coaster month so far, with Trump imposing reciprocal tariffs on all countries on April 2, including 26% on India, and then announcing a 90-day pause on tariffs just before its final implementation. Such moves have increased uncertainty in the markets world over.

Fidelity said it snapped up battered Chinese consumer stocks, betting the companies will benefit from government stimulus. MSCI Asia Pacific Consumer Staples Index has risen 5% since April 2, the best performance among 11 sectors .

To export, companies must be able to import machinery and other components and, right now, that is very difficult because of the bureaucracy involved in setting up businesses in India. So, this is an urgent requirement for India to address. If they ease the system, it will encourage global players like Apple to set up their own factories and manufacture in India.

The recent unfilled weekly upside gap is likely to be a bullish breakaway gap, which is normally formed at the beginning of sharp up-trended moves. The next upside target to be watched for Nifty is around 24,550 and 24,850 in next two weeks. Immediate support is at 23,500.

JSW Energy said it is working on Vision 3.0, which is likely to be unveiled in the next 2-3 months, to revise its earlier target of 20 GW installed capacity and 40 GWh storage by 2030, in view of a favourable regulatory and demand outlook.

The sharp rebound in the Indian currency, from its record low of ₹87.93 per dollar in the middle of February, gives a window for companies to hedge their positions, even as the long-term outlook for the rupee remains weak, according to currency traders and treasury heads.

The dollar weakened against its major peers with euro among the outperformers. The yen climbed to the strongest level against the greenback since September. Treasuries dropped and equity-index futures for the S&P 500 and the Nasdaq 100 retreated. Japanese stocks fell at the open.

Gold prices surged to a record high as the dollar weakened and trade war tensions escalated, fueling recession concerns and driving investors towards the safe-haven asset. The U.S. is considering tariffs on critical mineral imports, further straining global trade relations. Despite rising prices, physical gold demand remained subdued in India, while premiums held steady in China.