“Following a turbulent start driven by fresh tariff threats, the Indian market started on a pessimistic note. However, domestic market attempted a strong recovery but by the end of the day it closed with marginal losses, on a monthly expiry day. Investors gravitated toward domestically oriented, non-discretionary players, especially FMCG, which offered attractive valuations, demand outlook and relative insulation from tariff risks. In contrast, oil & gas stocks were the worst hit due to US warnings over Indian energy imports. Overall, the market reflected a cautious yet selective approach. Market continues to hold high hopes for a more favorable tariff outcome in the near-term.”
