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The world just felt a seismic shift in trade. Former U.S. President Donald Trump has unleashed a new wave of tariffs, shaking global markets and putting countries like India, China, and Vietnam on high alert. While some sectors are reeling, others are surprisingly rising above the storm. From India’s diplomatic push to global industries in freefall, we unpack the winners, the losers, and the game-changing moves shaping 2025’s global trade map.

The trade story everyone's talking about-unpacked in minutes!

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Today’s Market Menu

• Focal Point: What Trump’s Tariff means for You and the Market

• Markets

• Everything else you need to know today

• Special for the Day: Breaking Down Trump’s Global Tariff Offensive

• Mindset: How to Recession-Proof your savings

• Supercharge your Investing Skills with this Video

• Stock Screener to up your game

FOCAL POINT

What Trump’s Tariff means for You and the Market

Former U.S. President Donald Trump has reignited trade tensions by slapping a steep 26% tariff on Indian imports, aimed at correcting what he calls “decades of trade imbalance.” This move comes just as India and the U.S. were progressing in bilateral trade talks. PM Modi is actively strategizing to counter the impact while stabilizing India's economic footing.

📦 Tariff Breakdown-What’s Affected & What’s Not

📅Effective from April 9, 2025: Businesses have less than a week to adjust pricing, contracts, and logistics, amplifying uncertainty and supply chain strain.

🧰Core Sectors Hit Hard: Tariffs target electronics, textiles, jewelry, leather goods, and machinery-products where India is a global supplier. These industries face a sudden price disadvantage in the U.S. market.

💊Pharma Wins Temporary Relief: India’s pharmaceutical sector, a $9 billion annual exporter to the U.S., has been spared, reflecting mutual dependency in the healthcare space.

🧾Goods Worth $23B+ Affected: The tariffs touch roughly $23 billion in Indian exports, marking one of the most aggressive single-nation trade actions under Trump’s renewed policy direction.

📉 Economic Fallout-Short & Long-Term Ripples

📉GDP Dip Forecasted: Analysts expect India's GDP to take a hit between 0.8% to 0.9%, directly due to loss of export revenue and downstream supply chain impacts.

🔧Sectoral Domino Effect: Manufacturing clusters-especially in Gujarat, Maharashtra, and Tamil Nadu-face potential layoffs and production slowdowns.

🧵MSME Alert: Small and Medium Enterprises (SMEs), which dominate the textile and light manufacturing sectors, are more vulnerable as they lack reserves and bargaining power to absorb the shock.

💱INR Volatility Looms: The trade imbalance may lead to downward pressure on the Indian Rupee (INR), potentially raising import bills and inflation.

🤝Modi Government’s Multi-Track Response

🔄Urgent Bilateral Outreach: Modi has activated diplomatic channels, seeking direct trade dialogues with U.S. counterparts to reduce or rationalize the tariff list.

🌐Expanding Trade Horizons: India is fast-tracking Free Trade Agreements (FTAs) with the EU, UAE, Australia, and Latin America—looking to pivot its dependency away from the U.S.

📈Stakeholder Roundtables Underway: Industry leaders from export-heavy sectors are being consulted for impact assessment, mitigation policies, and export incentives.

🧯Possible Relief Measures: The government is exploring Production Linked Incentives (PLIs), export tax rebates, and insurance subsidies to shield businesses from short-term shocks.

🌍 Geopolitical & Trade Context

🥇India Not Singled Out: India’s tariff rate, while steep, is lower than China’s (54%) and Vietnam’s (46%), showing the U.S. is applying a broader protectionist agenda with customized aggression.

🧩Strategic Calculations: Exempting pharma and defense indicates the U.S. still values key sectors from India-signaling this isn’t an all-out economic breakup.

⚖️Global Trade Order at Stake: Trade experts warn that such sudden, unilateral moves bypass WTO frameworks, weakening long-standing global trade norms.

📊 Market & Investor Watchpoints

📈Winners So Far: Indian pharma and defense stocks have surged, as exemptions provide investor confidence and projected business continuity.

📉Red Flags for Exporters: Stocks in textiles, consumer electronics, and manufacturing dipped sharply post-announcement, mirroring expected revenue and margin compression.

🕵️Investors Eye Trade Talks: A negotiated reset or easing of terms could bring a rebound. Meanwhile, volatility is expected to persist in export-heavy Nifty and Sensex stocks.​

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MARKETS

Stock markets saw a modest decline following Trump’s 26% tariff announcement, with the Nifty 50 falling 0.35% to 23,250.10 and the BSE Sensex slipping 0.42% to 76,295.36. The dip was largely driven by sharp losses in IT and financial stocks, while gains in pharmaceutical and select FMCG stocks helped cushion the blow. Midcap and smallcap indices remained relatively stable, reflecting cautious optimism. Despite the overall pressure, Indian markets outperformed other Asian peers, thanks to lower tariff exposure and strong sectoral resilience.

_{Closing figures as on 03.04.25 (3.30pm IST)}

🔎 In Focus

Sectorial Performance:

💻 IT sector suffered a major blow, with Nifty IT tumbling 4.21%. Major losers included:

🔻Infosys: -3.46%
🔻TCS: -3.97%
🔻HCL Tech: -3.76%

💊Pharma stocks stole the spotlight, rallying as they were exempt from the new U.S. tariffs:

✅ Dr. Reddy’s Labs: +0.13%
✅ Cipla: +2.98%
✅ Sun Pharma: +3.29%

👉 Nifty Pharma index surged nearly 2.5%.

🛒 FMCG sector edged higher, up 0.19%, as investors leaned into defensives.

🏦 Nifty Bank slipped 0.49%, reflecting caution across financials.

🚗 Auto and metal sectors witnessed modest declines, dragged by export worries and weak global cues.

📈 Surprisingly, midcap (+0.21%) and smallcap (+0.58%) indices showed resilience, suggesting selective domestic buying.

The Indian Rupee weakened, closing at ₹85.4400/USD, down 0.0700 paise, as foreign investor sentiment soured.

NIFTY 500: Market Bleeds 💔

Promoter Action

_{Stocks where Promoters Bought/Sold from Open Market}

Institutional Action

_{Provisional Net Figures (Rs. in Crores)}

^{For complete data click here}

FROM THE FRONTIER

Everything else you need to know today 

🧨Tariffs: The U.S. has imposed a 26% tariff on Indian imports amid ongoing trade negotiations, citing high Indian tariffs on U.S. goods. This move affects key sectors like electronics and gems, while pharmaceuticals and energy products are exempt.

💊Resilience: Despite new U.S. tariffs, Indian pharmaceutical stocks are rallying, as the sector is exempt from these duties. This exemption highlights the resilience and importance of India's pharma industry in global markets. ​

🩺Impact: The Association of Indian Medical Device Industry warns that the 26% U.S. tariff could hinder the growth of India's medical device sector, urging for bilateral negotiations to mitigate potential setbacks. ​

🧭Strategy: In response to U.S. tariffs, the Indian government is consulting with stakeholders to identify areas of potential gains and strategize on mitigating adverse impacts on the economy. ​

🕵️Transparency: IndusInd Bank's auditors have removed 'derivative valuation' from their key audit matters, raising questions about transparency, especially following RBI directives and subsequent derivative losses.

📝 Order Wins

✅GHV Infra Projects: secures a ₹191 Cr contract to install an FGD system at a 500 MW Gujarat power plant, boosting its environmental engineering portfolio.

✅Shakti Pumps: bags a ₹12.42 Cr order from MEDA to install 445 solar water pumps under the PM-KUSUM scheme, advancing green energy in Maharashtra.

✅Kay Cee Energy & Infra: wins a ₹5.42 Cr railway infrastructure project for bridge pathway construction in Kerala’s Palakkad division.

✅Sattva Sukun Lifecare: lands a bulk order for 10,000 handcrafted electric Kapoor Danis from Mangalam Brands, elevating its lifestyle product line.

💰 Fund Raising

✅POCL Enterprises plans a strategic boost with a preferential issue of 30.86 lakh equity shares and 6.12 lakh convertible warrants. The move includes updating its Articles of Association and seeking shareholder nod via EGM on April 28, 2025, with e-voting open from April 25–27.

Breaking Down Trump’s Global Tariff Offensive

​President Donald Trump's recent "Liberation Day" tariffs have reshaped global trade dynamics, imposing a universal 10% tariff on all U.S. imports, with significantly higher rates for specific countries.

Here's a breakdown of the hardest-hit nations and sectors, as well as those that have been exempted:​

Nations Facing the Steepest Tariffs:

• China: Confronted with tariffs exceeding 50%, China has labeled the move as harmful and pledged to implement resolute countermeasures. ​

• Vietnam: Subjected to a 46% tariff, Vietnam's export-driven economy is poised for significant challenges. ​

• European Union (EU): Facing a 20% tariff, the EU has expressed concerns about the potential economic fallout and is preparing retaliatory measures. ​

• Japan: Hit with a 24% tariff, Japan has termed the decision "extremely regrettable" and is seeking exemptions. ​

• India: Encountering a 26% tariff, India is actively seeking negotiations with U.S. counterparts to address and potentially mitigate the tariff impacts. ​

Sectors Bearing the Brunt:

• Automotive: Nations like Japan and Germany, renowned for their automotive industries, are expected to experience significant impacts due to the tariffs. ​

• Electronics: Countries such as China, South Korea, and Taiwan, major exporters of electronics, are likely to face substantial challenges. ​

• Textiles: Nations including Vietnam and Bangladesh, with economies heavily reliant on textile exports, are projected to suffer considerable setbacks.

Exemptions and Lower Tariffs:

• Pharmaceuticals: India's pharmaceutical sector, a major supplier to the U.S., has been exempted from the new tariffs, providing some relief to the industry. ​

• Defense Equipment: Certain defense-related exports from allied countries have received exemptions, reflecting strategic partnerships. ​

• Agricultural Products: Select agricultural goods from nations like Canada and Mexico have been spared, considering existing trade agreements and mutual dependencies. ​

These tariffs have elicited strong reactions worldwide, with many countries voicing dismay and cautioning against a potential trade war. The international consensus underscores the need for dialogue to avoid worsening global economic stability.

ONEZERO-F ACADEMY

How to Recession-Proof Your Savings

In today’s uncertain economy, safeguarding your savings is more crucial than ever. This powerful money moves unveils 7 smart and simple ways to recession-proof your money. From boosting emergency funds to trimming debt, these expert-backed strategies help you stay financially confident-no matter what the market does.

💡 Key actionable Tips

🧾 Review Your Budget Like a Pro
Go line-by-line through your expenses. Cut out those sneaky subscriptions and impulse buys. The goal? Prioritize needs over wants and keep more cash in your pocket.

💼 Build an Emergency Fund ASAP
Aim to stack 3–6 months of living expenses in a liquid account. This buffer is your safety net when times get tough (like job loss or surprise bills).

📈 Use High-Yield Savings Accounts (HYSA)
Say goodbye to 0.01% interest. Switch to an HYSA and earn up to 4–5% APY-your money will finally work for you, even while it sits idle.

📊 Diversify Your Investments
Don't put all your eggs in one basket! Mix up your portfolio with stocks, bonds, real estate, and more to reduce risk and stay steady when markets swing.

🚫 Crush High-Interest Debt
Pay off credit cards and other high-interest loans quickly. These debts eat into your savings and slow your financial growth. Debt-free = stress-free!

🛒 Keep Contributing to Retirement Accounts
Don’t hit pause! Continue adding to your 401(k), IRA, or Roth accounts. Downturns can mean "stocks on sale"-a golden opportunity for long-term growth.

👩‍💼 Get Help from a Financial Advisor
Not sure what your next money move should be? A certified planner can tailor a recession-ready plan just for you, with clear steps and strategies.

Final Thought
With a few proactive changes, you can turn uncertainty into empowerment. These 7 steps aren’t just about surviving a recession-they're about thriving through one.

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