ANI
09 Apr 2025, 17:40 GMT+10
Mumbai (Maharashtra) [India], April 9 (ANI): After staging a smart comeback yesterday, Indian stock markets ended on a negative note on Wednesday, showing no major enthusiasm for the policy interest cut by the Reserve Bank of India (RBI).According to the market experts, the sentiments of the market participants are subdued due to the developments in the US reciprocal tariffs which will be effective from today.
At the end of the trading session, BSE Sensex was down 379.93 points or 0.51 per cent, at 73,847.15, while the Nifty 50 closed at 22,399.15, declining 136.70 points or 0.61 per cent.
'Markets slipped after a brief rebound, losing over half a per cent as the choppy trend persisted. Sentiment took a hit following the announcement of fresh U.S. tariffs on China, leading to a gap-down opening and a largely range-bound session thereafter. The outcome of the MPC meeting--where a 25 bps rate cut was announced along with a shift to an accommodative stance--failed to evoke any meaningful market reaction,' Ajit Mishra, SVP, Research, Religare Broking Ltd, said, observing the markets.
Mishra further said that the ongoing volatility continues to keep traders cautious, and any near-term relief seems unlikely given the recent tariff-related developments and the onset of the earnings season.
'Investors will react to the IT major TCS's results in early trades on Friday, which could influence market direction initially. Until volatility, as reflected by the elevated India VIX, cools off, we recommend maintaining a hedged approach to navigate potential sharp swings,' he added.
'In this phase, export-import-dependent companies may face financial pressure over the next 2-3 quarters due to the ongoing tariff war,' said VLA Ambala, Co-Founder of Stock Market Today.
The stocks of about 1500 companies advanced while 2241 shares declined, and 138 stocks remained unchanged.
On the National Stock Exchange (NSE), Nestle, HUL, Tata Consumer, Titan Company, and Power Grid Corp were the major gainers, while Wipro, SBI, Tech Mahindra, L&T, and Trent were the major losers.
On BSE, Midcap index was down 0.8 per cent and Smallcap index was down 1 per cent.
On NSE, Consumer Durables and FMCG traded in the green, leaving all the other indices in the red territory.
Monetary Policy Committee (MPC) on Wednesday announced a 25-basis-point (bps) cut in the repo rate, reducing it from 6.25 per cent to 6 per cent, to support economic growth amid growing global uncertainties.
The Indian Market opened with a gap down today, tracking weak global cues amid heightened tariff concerns. President Trump confirmed the imposition of a 104 per cent tariff on Chinese goods, which is set to take effect today.
This announcement triggered panic across global markets, leading to heightened volatility.
Reflecting the global sentiment, the Indian market also opened on a negative note. Nifty opened at 22,460, made an intraday low of 22,353, and touched a high of 22,468 before moving sideways for the rest of the session. (ANI)
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