Indian Benchmark Indices Closes Lower As Global Trade Tensions Outweigh RBI Measures

In terms of market turnover as of the same date, the equity segment recorded a volume of 282.56 crore shares, generating a turnover of Rs 80,960.78 crore.

Market Update at 4:00 PM: Indian equity indices closed in the red on Wednesday, tracking a global market selloff amid escalating trade conflict

The Sensex closed almost 380 points or 0.51 per cent higher at 73,845, while the Nifty 50 closed 136 points or 0.61 per cent lower at 22,399, the index is trading below all-important moving averages. The Nifty Bank closed 270 points lower and settled at 50,240, mirroring benchmark indices. 

On the NSE, the benchmark index Nifty 50 recorded a 35.34 crore volume, whereas the last 20-day average volume stands at 36.90 crore. 

Broader indices traded with losses, where Nifty Mid-cap dropped by 0.51 per cent, while Nifty Small-cap ended lower by 0.86 per cent. India VIX traded near 21 mark and was up by 4.5 per cent during the day.

On the sectoral front, 3 out of 17 sectoral indices recorded gains, with Nifty FMCG, up more than 1.5 per cent, being the top-gaining sector. 

As of April 09, 2025, the market saw a total of 2,909 stocks traded. Among them, 1,083 stocks advanced, 1,747 declined, and 79 remained unchanged. There were 19 stocks hitting their 52-week high, while 45 stocks touched their 52-week low. Additionally, 80 stocks were locked in the upper circuit and 52 stocks hit the lower circuit during the session.

In terms of market turnover as of the same date, the equity segment recorded a volume of 282.56 crore shares, generating a turnover of Rs 80,960.78 crore. Meanwhile, the equity derivatives segment reported a volume of 22.44 crore contracts, a turnover of Rs 1,62,109.34.

Market Update at 2:20 PM: The Sensex dropped 0.51 per cent to 73,832, while the Nifty 50 dropped 0.59 per cent to 22,404, tracking a global market selloff amid escalating trade conflict.

On Tuesday, small and midcap stocks traded with losses, dragging broader market indices into negative territory. The Nifty Small-cap index dropped by almost 0.9 per cent, while the Nifty Mid-cap index was down over 0.55 per cent during mid-day trade.

Meanwhile, the India VIX was trading near the 21 mark, up by 5 per cent.

On the sectoral front, 3 out of 17 sectoral indices recorded gains, with Nifty FMCG, up more than 1.5 per cent, being the top-gaining sector. 

As of the latest update, 15 stocks have touched their 52-week high while 34 stocks have hit their 52-week low. Meanwhile, 66 stocks are locked in their upper circuit and 46 stocks are stuck in their lower circuit on the NSE.

About 848 stocks are advancing as against 1,824 stocks that are declining, thus indicating a negative market breadth in the broader market.

Market Update at 12:30 PM: Indian equity markets slipped on Wednesday, dragged lower by intensifying global trade tensions, despite the Reserve Bank of India's move to cut interest rates and shift its monetary policy stance from "neutral" to "accommodative."

At 12:15 p.m. IST, the Nifty 50 index was down 0.47 per cent at 22,430, while the Sensex declined 0.52 per cent to 73,844.

The RBI reduced its benchmark repo rate for the second time this year, aiming to cushion the economy from the impact of newly imposed U.S. tariffs that are starting to hamper growth. However, markets largely shrugged off the central bank’s move as the 25-basis-point cut was already anticipated and factored into stock prices. Additionally, the RBI revised its growth projection for fiscal 2026 downward by 20 basis points, trimming it to 6.5 per cent from the previous estimate of 6.7 per cent.

By midday, the top-gaining stocks that lifted the Nifty 50 higher are ITC (+11.83 pts), Hindustan Unilever (+11.21 pts), and Mahindra & Mahindra (+8.68 pts). On the other hand, Larsen & Toubro (-13.99 pts), HDFC Bank (-21.86 pts), and Infosys (-26.18 pts) were dragging the index down.

Selling pressure remained broad-based across Indian equities, with 12 out of 13 major sectoral indices in the red. Midcap and smallcap stocks both dropped around 1 per cent.

IT stocks, heavily reliant on U.S. markets for revenues, were particularly hard-hit, plunging 3 per cent amid growing recession fears. The pharmaceutical sector index also declined by 1.8 per cent following Trump’s announcement of potential "major" tariffs on pharma imports.

About 747 stocks are advancing as against 1,995 stocks that are declining, thus indicating a Negative market breadth in the broader market.

Market Update at 10:15 AM: Indian benchmark indices pared some of their earlier losses on Wednesday after the Reserve Bank of India (RBI) announced an expected interest rate cut to bolster economic growth. However, persistent global trade tensions continued to dampen market sentiment.

At 10:06 a.m. IST, the Nifty 50 was trading 0.38 per cent lower at 22,451.35, while the BSE Sensex slipped 0.24 per cent to 74,046.13. Prior to the RBI’s announcement, both indices were down by around 0.6 per cent.

In its policy move, the RBI reduced the key repo rate for the second time in a row and shifted its monetary stance from "neutral" to "accommodative" to address the slowing economy, which is facing fresh pressure from newly imposed U.S. tariffs.

Meanwhile, U.S. President Donald Trump’s latest round of "reciprocal" tariffs, including a steep 104 per cent duty on Chinese goods, came into effect on Wednesday, escalating global trade tensions even as the U.S. planned new negotiations.

Across Indian markets, selling pressure remained widespread, with 12 out of 13 major sectors ending lower. Small-Cap and Mid-Cap stocks both fell by 1.3 per cent.

Technology stocks, heavily dependent on U.S. revenues, were hit hard, dropping 2.6 per cent, while the pharmaceutical sector declined 1.8 per cent after President Trump’s remarks on potential heavy tariffs on pharmaceutical imports.

Pre-Market Update at 7:45 AM: The domestic equity benchmarks, Sensex and Nifty 50, are likely to open on a weaker note this Wednesday, weighed down by negative global cues. Asian markets were trading in the red, and US stocks also closed lower after the White House pushed ahead with steep tariffs on major trading partners, including a hefty 104 per cent duty on Chinese imports, hurting investor sentiment.

Meanwhile, the Reserve Bank of India (RBI) is set to unveil its first monetary policy decision for FY26 today. The Monetary Policy Committee (MPC), led by Governor Sanjay Malhotra, is widely expected to announce a repo rate cut, considering the backdrop of easing inflation and a slowdown in economic growth.

Gift Nifty hovered near the 22,396 mark, trading at a discount of approximately 234.35 points compared to the previous close of Nifty futures. This suggests that Indian stock market indices are likely to open on a weaker note.

The US stock market slipped on Tuesday, erasing early gains and extending its losing streak. The S&P 500 fell below the 5,000 mark for the first time in nearly a year, with the market shedding around USD 5.83 trillion in value over the past four sessions.

The Dow Jones Industrial Average dropped 320.01 points, or 0.84 per cent, finishing at 37,645.59. Meanwhile, the S&P 500 slid 79.48 points, or 1.57 per cent, to close at 4,982.77. The Nasdaq Composite also tumbled, losing 335.35 points, or 2.15 per cent, to settle at 15,267.91.

At an event hosted by the National Republican Congressional Committee on Tuesday, former President Donald Trump announced that the United States will soon impose a significant tariff on pharmaceutical imports, according to Reuters. Trump mentioned that the move is aimed at encouraging drug manufacturers to shift their operations back to the U.S.

Crude oil prices continued their downward slide, hitting their lowest levels in four years, as escalating trade tensions raised concerns over a slowdown in global energy demand. Brent crude slipped by 2.90 per cent to settle at USD 61.00 per barrel, while US West Texas Intermediate (WTI) futures fell by 3.44 per cent, closing at USD 57.53.

Asian markets were under pressure on Wednesday as investor sentiment took a hit ahead of the implementation of new U.S. tariffs, including a hefty 104 per cent duty on China, set to take effect at midnight in the U.S. Japan’s Nikkei 225 tumbled 3.14 per cent, while the Topix index recorded an even sharper loss of 3.26 per cent. In South Korea, the Kospi edged down by 0.18 per cent, and the Kosdaq slipped 0.44 per cent. Meanwhile, futures tied to Hong Kong’s Hang Seng index suggested a softer start to trading.

After a steep decline in the previous session, the Indian stock market bounced back sharply on Tuesday. Both benchmark indices posted strong gains of around 1.5 per cent each. The Sensex jumped 1,089.18 points, or 1.49 per cent, to end the day at 74,227.08, while the Nifty 50 climbed 374.25 points, or 1.69 per cent, to close at 22,535.85.

On April 08, 2025, foreign institutional investors (FII) sold shares worth Rs 4,994.24 crore, while domestic institutional investors (DII) bought shares worth Rs 3,097.24 crore.

Stocks that are banned for trading in the F&O segment on April 09, 2025, are Birlasoft Ltd, Hindustan Copper Ltd and Manappuram Finance Ltd.

Disclaimer: The article is for informational purposes only and not investment advice.