Market Closing Updates: Sensex down by 2.95%, Nifty by 3.24%

Indian financial markets had a bumpy ride on Dalal Street, as major indices corrected sharply due to global headwinds and broad-based sell-off across several sectors. The BSE Sensex fell by 2226.79 points (-2.95.%) closed at 73,137.90. The NSE Nifty was down 742.85 points (-3.24%) settled at 22,161.60. The fall in the indices was continuous over the day, impacted by fair difficulties in the IT, metal and different circles.

All sectors bore the brunt of the negative sentiment: Nifty Metal fell 8% and Nifty IT was down over 7%. Nifty Auto, Realty and Oil & Gas sectors fell more than 5% each. The broader market exhibited this bearish trend, with the small-cap index down 10% and the mid-cap index down 7.3%.

India’s volatility index (India VIX), widely considered the barometer of market fear, soared more than 59% to 21.94, registering one of its biggest single-day jumps in recent years. This surge reflects the increased risk aversion in the marketplace.

Nasdaq enters in bear market

The stock market is down a lot today for several interconnected reasons. What’s more, the Nasdaq has officially entered bear market territory, down more than 20% from its recent peak. The decline was precipitated by wide-ranging tariff announcements by U.S. President Donald Trump earlier in the week that have raised fears of a global economic slowdown.

Global selloff

Internationally, a global selloff adds to the pressure. Asian markets have suffered, with Japan’s Nikkei down 7 percent, South Korea’s index down 5 percent, and Chinese blue-chip stocks down nearly 7 percent. Also, Hong Kong’s Hang Seng index plummeted more than 10.5%.

Recession fears overshadow inflation worries

Market sentiment has turned, with worries about a recession taking precedence over worries about short-term inflation. Indeed, the forecast for March's U.S. consumer price index (CPI) shows a small 0.3% rise, prompting fears that tariffs recently imposed will lead to rising prices soon on everything from groceries to cars.

Sharp plunge in global commodity prices

Moreover, global commodity prices plummeted on heightened concerns of cooling demand and a possible economic downturn.

Analyst Perspectives

The market experts also advise caution, and some believe that it is too early to deploy the cash and are favourable on domestic-focused themes in the midst of uncertainty. However, the current crisis may increase the attraction of India for global equity flows supported by falling crude prices, softer interest rates and a weaker dollar.

INR vs USD

On Monday, the Indian rupee ended at its lowest level in the two weeks against the US Dollar, erasing its brief recovery from the last week as global trade tensions and a risk-averse market sentiment took hold. The Indian rupee fell by 60 paise at 85.84 against the greenback, after opening at 85.75, a decline marking its steepest single-day drop in six weeks. For context, it closed at 85.24 on Friday.

Market Performance

On Monday, equity markets witnessed a sharp sell-off led by benchmark indices which recorded their steepest decline yet since early June, 2024. By 12:22 PM, the BSE Sensex was down 3,219 points, or 4.27% to 72,145, while the Nifty 50 was down 1,146 points, or 5%, to 21,758.

The steep fall wiped out substantial investor wealth as the market capitalisation of all listed companies on the BSE plummeted by ₹19.4 lakh crore to ₹383.95 lakh crore.

The heat map showed sectoral indices taking the maximum hit, with all major sectors trading in red. Nifty Metal was the worst hit with an 8% fall, while Nifty IT dropped more than 7%. Other major sectors, such as Auto, Realty, and Oil & Gas, fell more than 5% each.

The wider market showed even steeper declines. The Nifty Small-cap index was down 10% and the Mid-cap index fell 7.3% as broad-based selling played out across segments in the market.

Top Gainers of the Market

1. Siemens started with a strong bounce at an advance of 21.43% at ₹2,975.05. The stock opened at ₹2,450, touched a high of ₹3,087 and a low equal to its opening, before closing up around its high. Turnover was ₹34,893.82lakh on a volume of 1,209,487 shares. The deal involves Siemens, which has a corporate action on 7 April 2025.

2. Tecilchem came in next place, gaining 19.99% and ending the session at ₹30.43. The stock had a total count of the 27,370 shares resided worth ₹ 7.95 lakh between ₹21.00 and ₹30.43.

3. Gtecjainx gained 9.97% to close at ₹33.87 after oscillating between ₹27.75–₹33.88. Turnover was low at 2,605 shares, valued at ₹0.85lakh.

4. Securkloud gained 9.96% at ₹22.86, with intraday low of ₹19.47 and high of ₹22.86. 93,325 shares were traded with a volume of ₹20.45lakh.

5. Oswalseeds up 9.16% at ₹13.70. On volume of 263,568 shares, which amounted to ₹34.61lakh of trades, the stock of the seed company fluctuated between ₹11.70 and ₹13.80.

On a whole, these mid‑ and small‑caps did better than broader indices in a generally uninspiring market. The movements reflect sector‑specific catalysts but also the impact of coming corporate actions on trading dynamics.

Top Losers of the Market

1. ABIN-REI: ABIN‑REI Shares dived 32.99% to ₹34.03 from the previous close of ₹50.78. The shares opened at ₹31.00, hit an intraday high of ₹54.00 and a low of ₹30.46, as 1.01million shares were traded on the exchange, amounting to a turnover of ₹310.66lakh.
2. Trent: Setting on an inventory of 5.38 million shares and turnover of ₹250,739.98lakh, Trent logged 16.88% fall, incomplete at ₹4,623.95 in contrast with ₹5,562.85. Its last corporate action was on 22 May 2024.
3. IRIS‑RE slipped 16.78% to ₹6.10(₹7.33), in a thin 32,727‑share volume and ₹2.06 lakh turnover.
4. Mahktech was down 14.65% at ₹ 18.41 from ₹ 21.57 while 8.11million shares changed hands on a turnover of ₹ 1,514.98 lakh.
5. Khandse dropped 14.63% to ₹21.00, down from ₹24.60, and saw 28,076 shares change hands for ₹6.03 lakh.

The session highlighted ongoing selling pressure on mid‑ and small‑caps, with ABIN‑REI most affected by the downturn. The broader market mood was subdued, mirroring continued risk aversion among investors.

Market Open

Dalal Street was hit hard on Monday, with the Sensex and Nifty 50 plunging sharply under the weight of global selling. The Sensex plunged 3,914.75 points (5.19%) to start at 71,449.94, while the Nifty crashed 1,146.05 points (5%) to 21,758.40. Markets across Asia were awash in red following a Wall Street crash on Friday that deepened a steep slide on Indian benchmarks.

Factors Influencing Market Sentiment

• International tariff confrontation escalates: President Trump on “Liberation Day” slapped sweeping import duties, claiming they strengthen U.S. negotiation leverage. China retaliated with an immediate 34 percent tariff on all American goods.
• Markets sink as rout on Wall Street drags down indexes: The S&P 500 plummeted 6%—its biggest one‑day fall since March2020—closing at an 11‑month low and wiping more than $5.4trillion in value over two days. Tech titans led the sell‑off: Tesla dropped 10%, Nvidia and Apple declined more than 7%, and the Nasdaq100 enters bear‑market territory. Friday’s tumble is set to weigh on Asian markets at the open on Monday.
• India chooses dialogue over show of force: Instead of retaliation, India—with Japan, Mexico, and South Korea—is asking for U.S. tariff concessions. Vietnam and Cambodia are discussing rate cuts or deferments, and the U.K. aims for an all-encompassing trade agreement. Still, the ongoing uncertainty over global trade is likely to continue to weigh on investors at home.

Global Backdrop:

• US Dollar: The US Dollar Index (DXY), which compares the greenback to a basket of six major peers that include the euro, pound, krona, yen and franc, rose 0.22% to 102.75 on Monday morning. On April 4, the rupee fell 0.26% to ₹85.23 to the dollar.

• Gold Rate Today: Having hit a peak of ₹89,860 per 10g, gold has since receded to ₹88,210 today, a 1.8% fall. Prices also fell 1.25% compared with a week earlier, as investors take earlier profits after a strong twelvemonth rally.

• Crude Oil: Crude benchmarks dropped sharply today, WTI fell 3.44% to $59.87, while Brent lost 3.31% to $63.41.

Stocks in Focus:

• Tata Steel: FY 2018‑19 taxable income re-assessed upwards ₹25,185.51cr (debt waiver from Bhushan Steel); challenged in Bombay HC
• Tata Motors: Jaguar Land Rover prevents US shipments after tariffs; Tata Motors plans shareholder meeting on 6May2025 to vote on demerger
• IndusInd Bank: Q4FY25 net advances up 1.4% at ₹3.47lakhcr; deposits up 6.8% at ₹4.11 lakh cr.
• Bajaj Housing Finance: Disbursements (Q4FY25)+25.1% at ₹14,250cr; AUM +26% at ₹1.14 lakh cr.
• Mazagon Dock: Government used oversubscription option to offload additional 1.18% stake in OFS; retail bidding today.
• Nykaa (FSN E‑Commerce): Q4FY25 net revenue growth guidance at low‑mid 20s% YoY;same full‑year FY25 guidance
• Delhivery: To acquire Ecom Express for ~₹1,400cr cash.
• Swiggy: ₹7.59cr assessment order for profession‑tax deduction
• One97(Paytm): Confirms target to be profitable in Q4FY25.
• ITC: Acquires additional 9% stake in Ample Foods for ₹131cr, holds 43.75% stake in total
• Biocon: Gets approval to raise up to ₹600 cr through commercial paper
• Godrej Properties: Development deal at Versova (Mumbai) with revenue potential of ₹1,350cr.
• AstraZeneca Pharma India: Received regulator approval to import Osimertinib tablets.

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