Indian stocks open flat on Friday, global economic concerns & Trump tariff influencing market movement

Mumbai (Maharashtra) [India], March 7 (ANI): Indian stock markets opened flat on Friday after two days of gains, as selling by foreign investors continued to weigh on sentiment.
Experts believe that relief from foreign outflows is unlikely before April, as investors await strong corporate earnings and the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) meeting.
The Nifty 50 index opened at 22,508.65 points, down by 36.05 points or 0.16 per cent, while the BSE Sensex started the day at 74,347.14 points, registering a marginal gain of 7 points or 0.01 per cent.
Despite the flat opening, market analysts suggest that concerns over global economic conditions, along with the impact of Trump tariffs, are influencing market movements.
Ajay Bagga Banking and Market Expert told ANI "Indian markets remain impacted by continued FPI selling and with domestic catalysts not on the horizon till the April earnings and next RBI MPC meet, global cues are more dominant. The outcome of Commerce Minister Piyush Goyal's US negotiations will be a key driver in the coming weeks as India braces for the April 2nd reciprocal tariffs wave".
He further added "The ECB cut rates, yet again and as expected. Trump tariffs derailed US markets. Fed Governor Waller ruled out the need for any Fed rate cuts in March. Nasdaq entered correction territory as the "Magnificent Seven" heavy lifters continue to be sold in a Trump-risk-off trade. The markets are poring through Trump 1.0 records to see when does Trump blink, at what levels of market losses does he relent. We are nearly there.
Among sectoral indices, most sectors remained under pressure except Nifty Realty and Nifty Media, which showed some strength. Nifty Bank declined by 0.34 per cent, Nifty Auto fell by 0.16 per cent, and Nifty IT was down 0.31 per cent in the early trading session.
Within the Nifty 50 index, 14 stocks opened in the green, while 25 stocks declined and 11 remained unchanged at the time of reporting.
Akshay Chinchalkar, Head of Research, Axis Securities said "The nifty rose for a second day yesterday, which was its longest two-day winning run since End-Jan. The daily candle traced a long lower shadow, which showed bulls stepping in to buy the initial, volatility-laden dip. Resistance lies in the 22588 to 22720 area, with support seen between 22230 and 22410. Tactically, bulls clearly are showing signs of life, particularly after yesterday's rebound.
Market experts believe that sustained foreign outflows may continue to put pressure on Indian equities in the near term. Investors are now focusing on corporate earnings and the RBI's policy decision for further market direction.
Until then, global factors, including trade policies and geopolitical developments, will play a crucial role in market performance. (ANI)