Next week’s key triggers for the market: RBI MPC, CPI, tariffs, and global economic data.

The upcoming week in the equity market is poised to be influenced by various factors, both domestic and international. Key events to watch for include the RBI Monetary Policy Committee (RBI MPC) decision, India’s CPI data for March, and industrial production figures. Additionally, updates on US reciprocal tariffs and global economic data releases will also play a crucial role in shaping market sentiment.

The RBI MPC decision, scheduled for April 9, will shed light on the Reserve Bank’s policy stance and provide insights into India’s economic outlook. Alongside this, key data such as India’s CPI for March and Industrial Production and Manufacturing Production figures are set to be unveiled on April 11.

On a global scale, investors will be keeping a close eye on the minutes of the US Federal Open Market Committee (FOMC) meeting, US CPI data, and UK GDP data, all of which are slated for release next week.

Indian benchmark indices witnessed a downturn, with the Sensex declining by 2.65% to 75,364.69 and the Nifty falling by 2.61% to 22,904.45. The market sell-off was predominantly driven by the escalating global trade tensions following US President Donald Trump’s decision to impose hefty tariffs on select Indian goods.

During the week, the IT and Metal sectors experienced significant declines of 9.15% and 7.46%, respectively, making them the worst performers. Conversely, the FMCG sector managed to post modest gains of 0.45%, indicating a trend towards defensive buying amidst heightened market volatility.

Foreign Institutional Investors (FIIs) took a bearish stance, withdrawing around Rs 13,730 crore from the cash segment, while Domestic Institutional Investors (DIIs) offered some support with net inflows of approximately Rs 5,632 crore.

Puneet Singhania, Director at Master Trust Group, highlighted the negative sentiment prevailing in the market, attributed to fears of a global trade war and signs of an impending recession. He emphasized key support levels at 22,300 and 22,000, with 22,800 serving as a prominent resistance level. In such a volatile environment, Nifty is seen as a sell-on-rise market, prompting traders to exercise caution and refrain from aggressive long positions until stability is restored.

The outlook for the next week remains contingent on how these factors evolve, with market participants closely monitoring developments on both the domestic and international fronts.