“The profit taking has been broad based amid softer global cues,” said Pankaj Pandey, head of research at ICICI Securities. “Nifty is also struggling to cross the psychological levels of 22,000 due to lack of near-term triggers.”
Tariff shock turns FIIs to sellers in April. Analysts flag global risk but back India’s fundamentals
Foreign institutional investors reversed course in early April, spurred by rising global trade tensions following US President Trump’s announcement of steep tariffs. This led to