Markets Extend Historic Losing Streak Amid Global Trade Uncertainty

The Indian equity markets continued their downward trajectory, with the Nifty 50 recording its tenth consecutive session of losses, marking the longest losing streak in 29 years. The benchmark index slipped 36 points (-0.17%) to close at 22,082, briefly breaching the 22,000 mark in early trade before recovering over 100 points.

Out of the last 19 trading sessions, only one has closed in positive territory, reflecting persistent selling pressure and weak investor sentiment. NSE cash market volumes were down 7% compared to the previous session, indicating cautious participation.

🌎 Global Trade Tensions Escalate

The U.S. has officially imposed a 25% tariff on imports from Canada and Mexico, while Chinese goods now face a cumulative 20% duty following an additional 10% levy. The situation is set to intensify further as reciprocal tariffs take effect from April 2, raising concerns over global trade disruptions and financial market volatility.

This development triggered a sharp sell-off in global and Asian markets, though Indian indices fared better in comparison.

📉 Market Overview

✔ Broader Markets See Resilience:

• Small-cap and mid-cap stocks rebounded after prolonged selling pressure.

• The Nifty Midcap 150 edged up 0.16% to 17,807.30.

• The Nifty Smallcap 250 surged 1.15% to 13,914.10.

✔ Sectoral Performance:

• Gainers: Nifty PSU Bank (+1.56%), Nifty Media (+2.37%), Nifty Oil & Gas (+0.66%).

• Laggards: Nifty Auto (-1.31%), Nifty IT (-0.90%), Nifty FMCG (-0.52%).

✔ Top Gainers & Losers (Nifty 50):

• Gainers: State Bank of India, Bharat Petroleum Corporation, and Bharat Electronics saw strong gains.

• Losers: Bajaj Auto, Hero MotoCorp, and Bajaj Finserv were the top drags.

Market breadth was positive for the first time in a week, with 1,658 advancing stocks against 1,215 declines, signaling some renewed buying interest.

💹 Currency & Technical Indicators

• The Indian Rupee appreciated by 10 paise, supported by RBI intervention and a weaker U.S. dollar.

• Nifty has been trading below its 5-day exponential moving average (DEMA) since February 6, 2025.

• The 14-day Relative Strength Index (RSI) for Nifty dropped to 21, its lowest since March 2020, signaling oversold conditions.

📅 Global Economic Calendar – Key Events to Watch

Date Event Region

March 5 US Non-Farm Payroll Data US

March 6 European Central Bank (ECB) Meeting Eurozone

March 7 China Trade Balance Data China

March 8 US Unemployment Rate US

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