NIFTY50 likely to see gap-down opening; Dabur, Sun Pharma, Maruti, BEL among top stocks to watch on April 3

As regards India, Trump announced a 26% tariff.

According to a senior government official, the universal 10% tariffs will come into effect on all imports into the US from April 5 and the remaining 16% from April 10.

Reacting to the tariff announcements, financial markets across the globe took a hit.

Global Market Update

In the early trade, Japan's Nikkei was down 2.8% after earlier sliding to an eight-month low, with nearly every index member falling.

MSCI's broadest index of Asia-Pacific shares outside Japan fell more than 1%.

Nasdaq futures tumbled 3.3%, and in after-hours trade, some $760 billion was wiped from the market value of Magnificent Seven technology leaders. Apple shares, hit hardest as the company makes iPhones in China, were down nearly 7%.

S&P 500 futures fell 2.7%, FTSE futures fell 1.6%, while European futures fell nearly 2%.

Gold hit a record high above $3,160 an ounce, and oil, a proxy for global growth, slumped more than 2% to put benchmark Brent futures at $73.24 a barrel.

Back home, the GIFT NIFTY futures were trading at 23,170.00, down 58.50 points, or 0.25%. This implies that the NIFTY50 index will open 269 points lower.

In terms of channels, organised trade, including modern trade, e-commerce, and quick commerce, maintained their growth momentum, while general trade continued to be under pressure. Overall, FMCG volume trends continued to be subdued during the quarter.

"In India, the Foods business comprising 'Hommade' and 'Badshah' continued to perform well and is expected to post double-digit growth. However, due to delayed and truncated winters and a slowdown in urban markets, India's FMCG business is likely to decline in the mid-single digits. As a result, Dabur's consolidated revenue is expected to be flattish during Q4 FY25," the company said.

"We exported artillery guns to Europe even before supplying them to the Indian Army. Last year, we supplied 100 guns to a European country, including 18 ATAGs, Kalyani said at a press conference at the company's headquarters here.

It is a great feeling that, after 75 years of independence, India is not only capable of manufacturing its own artillery guns but is also exporting them to European nations, he said, adding that the company sees immense opportunities worldwide.

As intimated on October 30, 2024, by way of order dated October 29, 2024, the Hon'ble Delhi High Court had ordered for the sale of the 'Fortis' trademarks and allied marks by way of public auction, as, pursuant to the Hon'ble Supreme Court of India's judgement dated September 22, 2022, the healthcare provider said in a regulatory filing.

The Fortis Marks, which were held by certain entities owned and controlled by the erstwhile promoters of the company, were attached and made available to the Hon'ble Delhi High Court for the satisfaction of a decree in favour of Daiichi Sankyo Company Limited, it added.

Total advances were ₹9.83 lakh crore at the end of March 31, 2024, PNB said in a regulatory filing.

The lender reported a 14.3% rise in total deposits to ₹15.65 lakh crore as against ₹13.69 lakh crore at the end of the fourth quarter of the previous financial year.

The Bangur family-promoted firm has invested ₹850 crore in this greenfield facility, which is expected to create more than 500 direct and indirect employment opportunities, according to a company statement.

The strategic location of the unit, close to railway infrastructure, enables cost-effective transportation of raw materials from Rajasthan, while cement dispatch will leverage both roadways and railways, it added.

Lupin Healthcare (UK) Ltd, a wholly owned subsidiary of the Mumbai-based drugmaker, is acquiring a 100% stake in Renascience, which supplies products in the UK.

With the acquisition, Lupin Healthcare (UK) Limited gains full ownership of Renascience, which, going forward, will trade as its subsidiary, Lupin Ltd, said in a statement.

The list includes copper, pharmaceuticals, semiconductors, lumber articles, gold, energy, and other certain minerals.

“While the company is committed to optimising costs and reducing the impact on its customers, the company is constrained to pass on some of the increased expenses to the market,” Maruti Suzuki said in a statement to the stock exchanges.

The seven cars which will see price hikes are the Grand Vitara, Eeco, Waggon-R, Ertiga, XL6, Dzire Tour S and Fronx. The price increase ranges from ₹2,500 to ₹62,000, with the Grand Vitara being the highest price hike.

With this, BEL has commenced the current financial year 2025-26 with a ₹593.22 crore order acquisition.

Further, the company has concluded negotiations with customers for the acquisition of orders worth ₹5,000 crore, BEL said in a statement to the stock exchanges.