Stock Market Today: Sensex Trading 160 Points Down, Nifty Tests 23,550
On the positive side, the broader markets outperformed, as investors continued to seek out bargains in the small-cap and mid-cap segments
Indian benchmark indices, Sensex and Nifty 50, opened with losses on Friday, marking the last trading day of FY25. Investors are grappling with concerns surrounding US President Donald Trump’s upcoming reciprocal tariffs, which are set to take effect on April 2, 2025, dampening global sentiment.
For the current financial year, the Nifty 50 has gained approximately 5.7 per cent, while the Sensex has risen by 5.3 per cent. In the previous session, which marked the expiry of the March series, the Nifty 50 ended a five-series losing streak with a gain of around 6 per cent.
By 09:40 am, the Sensex had dropped 245.49 points, or 0.32 per cent, standing at 77,360.94, while the Nifty was down 64.80 points, or 0.27 per cent, at 23,527.15. Of the 3,031 shares traded, 2,121 advanced, 800 declined, and 110 remained unchanged.
Broader Market Update
On the positive side, the broader markets outperformed, as investors continued to seek out bargains in the small-cap and mid-cap segments. The Nifty Smallcap 100 index was up 1.2 per cent, while the Nifty Midcap index gained 0.78 per cent.
Sectorial Update
On the sectoral front, auto and pharma stocks continued to face selling pressure due to concerns over tariffs, following President Trump’s plans for a 25 per cent tariff on auto exports. Pharma stocks were also impacted, as a significant portion of their revenue comes from exporting generic drug formulations to the US.
Expert Comment
VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said, “The market’s resilience, despite Trump’s reciprocal tariff threats, comes from the renewed buying by FIIs and the confidence this has given to the bulls. The bears are currently on the back foot and this market construct may continue unless Trump announces something very nasty. Apart from the tariffs the market will be looking forward to the April 9th monetary policy and after that the Q4 results.”
“The US PCE inflation data expected today may give an indication of the inflation trend in the US. But more important than that would be the inflationary expectations from Trump tariffs. In this time of heightened uncertainty investors should remain calm and wait for the dust to settle down. FII buying will keep fairly valued largecaps resilient,” he added.
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