By theindianinvestor 
Wednesday, 9th April 2025.
Time : 8:10 AM IST
insights :
Tariff tensions rise, but RBI policy holds the key today.
1. Nifty gained 374 points and closed at 22,535.
2. The US has imposed an additional 50% tariff on China, taking total tariffs on Chinese products to 104%.
3. China is strategically devaluing its currency to make exports cheaper, as it is a major exporting country.
4. Due to China’s currency devaluation against the USD, other Asian currencies are also losing value against the USD, which is not a good sign for India.
5. US markets ended lower yesterday, with the Nasdaq closing nearly 2% down.
6. Asian markets are trading in the red, with Nikkei down more than 2%.
7. GIFT Nifty is indicating a 130-point gap-down opening for our markets.
8. Today, we have the RBI MPC outcome at 10 AM IST; markets are expecting a 25 bps rate cut, and all eyes will be on the RBI governor’s comments.
9. Any surprise rate cut of around 50 bps would be a big positive for the markets.
10. The fight for our markets now is between stable local cues and uncertain global cues.
11. Today’s market could be volatile, as tomorrow is a holiday for Mahaveer Jayanti, making today the expiry day. Expiry volatility, along with RBI MPC and Trump’s tariff news, could add to the swings.
12. Tomorrow, TCS Q4 results will be announced, which will impact our markets on 11th April.
13. FIIs continued selling; yesterday, they net sold around ₹4,994 crore in the cash market, unwound longs, and covered some shorts in index futures. Their net shorts now stand at 76%.
14. Nifty may take support around 22,000 and face resistance at 22800.