Indian markets have been on edge over the last two sessions after US President Donald Trump’s reciprocal tariffs on over 180 countries, including India, rocked global markets. The US reciprocal tariff of 26 per cent on India is higher than expected, but is relatively lower than that levied on other Asian countries like China (34 per cent), Vietnam (46 per cent), Thailand (36 per cent), Indonesia (32 per cent) and Bangladesh (37 per cent) which compete with India for export share.
While the Indian markets were visibly stable on Thursday, the sentiment took a beating on Friday after Donald Trump said he was planning tariffs on the pharma sector “like never before”. Consequently, the Nifty index tanked over 300 points to hit the day’s low of 22,921.60, whereas the Sensex index crashed 1,009 points intraday.
As analysts suggest investors to tweak their investment portfolios, focusing on domestic-economy lined stocks, Motilal Oswal Financial Services (MOFL) has listed out five stocks that investors could buy in April 2024. The brokerage has picked Varun Beverages, SRF, ICICI Bank, Indian Hotels, and Amber Enterprises as its focus ideas for the month.
| Stock Name | Rating | CMP (₹) | Target (₹) | Upside (%) |
| Varun Beverages | Buy | 544 | 680 | 25% |
| SRF | Buy | 2900 | 3540 | 22% |
| ICICI Bank | Buy | 1329 | 3540 | 17% |
| Indian Hotels | Buy | 831 | 960 | 16% |
| Amber Enterprises | Buy | 6935 | 7800 | 12% |
At 1:30 PM on Friday, April 4, Varun Beverages share was trading 1.61 per cent down at ₹535.25, SRF share price was down 1.11 per cent at ₹2,869.10, ICICI Bank up 0.49 per cent at ₹1,336, The Indian Hotels share was down 3.15 per cent at ₹804.85, and Amber Enterprises stock was down 4.20 per cent at ₹6,638.55. In comparison, the benchmark Nifty50 index was down 308.25 points or 1.33 per cent at 22,941.85.
From a technical perspective, the immediate support for the Nifty index is at 23,150, followed by 23,000 zones, while resistance is at 23,400, followed by 23,550 zones.
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