Pre-market action: Here's the trade setup for today's session

After the US announced reciprocal tariffs on various countries including India, domestic equities reacted but not much. Nifty on Thursday closed with a loss of just 82 points. With the major event now done-with, the market focus will now shift towards the RBI’s monetary policy on April 9 and the fourth quarter earnings season kicking off from next week.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX traded lower by 93.50 points, or 0.41 per cent, at 23,215, signaling that Dalal Street was headed for negative start on Friday.

• Tech View: Short-term support is placed at 23,100, and as long as the Nifty stays above this level, the trend is likely to remain strong. On the higher end, it may move towards 23,430, and a decisive move above this level could trigger a stronger rally.
• India VIX: India VIX, which is a measure of the fear in the markets, rose 0.9% to settle at 13.60 levels.

US stocks tumble
Wall Street benchmarks slumped on Thursday, ending with the largest single-day percentage losses in years, as U.S. President Donald Trump's sweeping tariffs ignited fears of an all-out trade war and a global economic recession.

• Dow slips 3.98%,
• S&P 500 falls 4.84%,
• Nasdaq down 5.97%

Asian shares slip
Investors braced for further pain across global markets as US stocks and the dollar suffered their worst day in years after President Donald Trump’s latest tariff measures sparked a global flight to haven assets. Shares in Australia and Japan fell at the open. US equity-index futures were steady as trading kicked off in Asia after the S&P 500 declined 4.9% on Thursday and the Nasdaq 100 slumped 5.5%, the biggest drop since 2020 for each.

• S&P 500 futures were little changed as of 9:13 a.m. Tokyo time
• Hang Seng futures fell 0.1%
• Japan’s Topix fell 1.8%
• Australia’s S&P/ASX 200 fell 1.3%
• Euro Stoxx 50 futures fell 3.6%

Gold steady
Gold prices held steady on Friday, set for a fifth consecutive weekly gain, as fears of a global trade war triggered by U.S. President Donald Trump's reciprocal tariffs increased demand for safe-haven bullion.

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 2,806 crore on Thursday. DIIs bought shares worth Rs 221 crore.

Rupee
The rupee pared its initial losses and settled for the day higher by 22 paise at 85.30 against the US dollar on Thursday as the greenback weakened against its major peers after President Donald Trump unleashed reciprocal tariffs on about 60 countries.

FII data
The net short of FIIs increased from Rs 62,329 crore on Wednesday to Rs 73,190 crore on Thursday.