Nifty gained 6% in March, led by banking and financial stocks. Key market drivers this week include Trump tariffs, US market trends, auto sales, FII/DII activity, technical factors, rupee movement, crude oil prices, and corporate actions. Support is at 23,400, with resistance at 23,850.
As gold prices hit record highs due to central banks and ETFs buying at unparalleled levels, the yellow metal has doubled in value over the last 30 months. Amidst global trade disruptions and economic uncertainties, gold continues to be perceived as the safest asset, with heavy institutional demand expected to persist throughout 2025.
Foreign portfolio investors (FPIs) remained net sellers of Indian equities in March for the third month but experienced a sharp deceleration in outflows thanks to strong buying in the second half of the month. Domestic funds showed a contrasting trend, selling more equities towards the end of the month while FPIs increased their buying.
Gold prices soared above $3,100 per ounce for the first time, driven by concerns over U.S. tariffs and geopolitical tensions. Spot gold prices hit a record high of $3,106.50 per ounce, with significant gains this year prompting banks to raise their forecasts for the yellow metal.
