Indian equities in Monday's session traded in the red amid broad-based sell-off after the US President Donald Trump over the weekend announced to levy reciprocal tariffs on some of the nations, escalating his trade policy overhaul further, denting investor sentiment substantially.

Nonetheless, Zee Business Editor Anil Singhvi held a different view considering the domestic factors and said that Indian equities will likely cheer Delhi election results. And he expected the bechmark Nifty50 index to climb 100 points just because of the Delhi election results. At the time of writing the copy, Nifty50 was down as much as 173 points or 0.73 per cent at 23,387 points.

In a rare event, the BJP will form the government in Delhi after more than 26 years as it won 48 of the 70 seats in the Assembly polls. 

Singhvi added that it will be crucial to observe where the state will source funds for freebies. A;so, with no significant elections lined-up, it would be beneficial for the government to increase its focus on work.

US President Donald Trump said he will levy a 25 per cent import tax on all steel and aluminium entering the US. Alongside, he added that later in the week there will be announced reciprocal tariffs on all nations that tax imports from the US.

Metal stocks saw steep sell-off in today's trade amid reports suggesting that the US President Trump will likely levy a 25 per cent tariff on steel imports.

Anil Singhvi pointed out that in Friday's session, foreign investors sold Indian equities worth Rs 470 crore- which was very small, nonetheless, there are still no signs of FIIs returning back to the D-Street as of now.  At the current juncture, the greatest impetus for the markets will be provided by the halt of FII selling, he added.