Indian frontline indices opened in the red on Friday following global sell-off in the equity markets in reaction to the reciprocal tariffs announced by US President Donald Trump.
At 9:23 am, Sensex was down 544 points or 0.71 per cent at 75,750 and Nifty was down 194 points or 0.82 per cent at 23,059.
Midcap and smalcap stocks witnessed selling pressure in the early trading hour. Nifty midcap 100 index was down 669 points or 1.34 per cent at 51,464 and Nifty small 100 index was down 253 points or 1.56 per cent at 16,001.
On the sectoral front, auto, IT, PSU bank, pharma, FMCG, metal, realty and energy were major laggards. Only finance services was trading with gains.
In the Sensex pack, HDFC Bank, Bajaj Finance, Bharti Airtel and M&M were top gainers. Tata Motors, Tata Steel, L&T, IndusInd Bank, Maruti Suzuki, Reliance Industries, Sun Pharma, Infosys and Tech Mahindra were the top losers.
Following the announcement of Trump tariffs, global markets experienced jitters overnight, leading to a gap-down opening indicated by the Gift Nifty.
Selling was seen in most Asian markets. Tokyo, Bangkok and Seoul were in the red.
The US markets witnessed a massive sell-off on Thursday after reciprocal tariffs were announced. The Dow closed by nearly 4 per cent down and the technology index Nasdaq down by nearly 6 per cent.
On the institutional front, foreign institutional investors (FIIs) extended their selling streak for the fourth consecutive session on April 3, offloading equities worth Rs 2,806 crore. In contrast, domestic institutional investors (DIIs) remained net buyers for the fifth consecutive day, purchasing equities worth Rs 221.47 crore.
According to market observers, on the upside, immediate resistance is seen at 23,350, followed by 23,600 for Nifty.
“A breakout beyond these levels could trigger a continuation of the uptrend, targeting the 200 DSMA in the 24,000–24,100 range. While the index may remain range-bound in the near term, stock-specific trades are offering better opportunities, and traders should focus on individual names for potential gains,” said Sameet Chavan, Head Research, Technical and Derivative - Angel One.
IndusInd Bank CEO Kathpalia quits due to derivatives accounting lapse
IndusInd Bank announced on Tuesday that its Managing Director and CEO Sumant Kathpalia has resigned from his post in connections with the derivatives accounting lapse that has eroded the private sector bank's net worth.
Sensex closes in green during volatile trade, Nifty ends at 24,336
Sensex opened on a positive note of almost 180 points at 80,396 and surged to an intra-day high of 80,661. However, the index quickly erased its gains, dipping into the negative zone and reaching a low of 80,122, which was 539 points down from its highest point of the day.
Indian stock market rebounds with strong gains, Sensex jumps 1,006 points
The Indian stock market bounced back strongly on Monday despite geo-political tensions, with the benchmark indices ending the day on a robust note.
India-Pakistan tensions: History shows Sensex bounced back stronger after every conflict
Even as tensions between India and Pakistan rise once again following the barbaric Pahalgam terror attack, Indian stock markets have showcased resilience every time the two neighbouring nations went into conflict.
Indian stock market opens higher, Sensex above 80,000
The Indian equity benchmark indices opened higher on Friday amid positive global cues, as buying was seen in the IT, pharma and auto sectors in the early trade.
Adani’s cement major ACC clocks highest-ever annual PAT at Rs 2,402 crore in FY25
Leading cement and building materials company ACC Limited on Thursday reported highest-ever annual profit after tax (PAT) at Rs 2,402 crore in FY25, up by 3 per cent.
Sensex, Nifty extend winning streak for sixth day, rise nearly 8 pc in 6 sessions
The Indian stock market continued its upward journey for the sixth straight trading session on Tuesday, supported by gains in fast-moving consumer goods (FMCG) and private banking stocks.