Mumbai, Mar 31: The Indian stock markets remained closed on Monday in observance of Eid-ul-Fitr celebrations, while other major Asian markets faced heavy selling pressure.

At the time of filing this report Japan's Nikkei 225 plunged by 4 per cent, Taiwan's Weighted Index declined by 2.97 per cent, and South Korea's benchmark index dropped by over 2.5 per cent, reflecting widespread investor concerns.

On Friday, Indian markets ended in the red, with the Nifty closing at 23,519 points after shedding 72 points, while the Sensex declined 0.25 per cent to settle at 77,414.

The ongoing market pressure is largely attributed to U.S. President Donald Trump's tariff policy, which, despite being factored into market sentiment, continues to cause uncertainty.

Investors are now awaiting further clarity on the impact of these tariffs, which are set to take effect on April 2. The coming days will be crucial in determining the long-term market reaction to these policy changes.

In the Indian markets, Foreign portfolio investors (FPIs) have turned net sellers for the third straight month in March. So far in 2025, they have been net sellers all through.

Data made available by National Securities Depository Limited showed that FPIs had sold stocks worth Rs 3,973 crore in March. In January and February, they had sold equities worth Rs 78,027 crore and Rs 34,574 crore, respectively.

FPIs had fuelled the bull run in the stock market, barring the latest sharp slump. As per definition, Foreign Portfolio Investment (FPI) involves an investor buying foreign financial assets. The benchmark Sensex remains nearly 8,500 points below its all-time high of 85,978 points. The pace of FPI sell-offs in the past few session March has however slowed down.

"Despite Friday's market close showing a decline, the robust recovery witnessed in the latter half of March, fueled by substantial Foreign Portfolio Investor (FPI) inflows, has enabled the major indices to conclude fiscal year 2025 with notable gains" said Sunil Gurjar, SEBI-registered research analyst and founder of Alphamojo Financial Services.

He further added "Currently, the price is trading between a hurdle and support, struggling to break the crucial resistance level of 23800. A breakout above resistance would indicate continuation of the uptrend in the sector. The technical price trading above all key moving averages further signals an uptrend".

(ANI)

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