The domestic equity benchmarks closed with modest cuts on Friday amid a volatile session, as investors remained cautious amid uncertainty surrounding US President Donald Trump's tariff plan. The Nifty closed below the 23,550 mark. Shares in the Media, IT and realty sectors declined, while those FMCG and private bank sectors advanced.
The S&P BSE Sensex slipped 191.51 points or 0.25% to 77,414.92. The Nifty 50 index declined 72.60 points, or 0.31%, to 23,519.35.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.68%, and the S&P BSE Small-Cap index shed 0.35%.
The market breadth was negative. On the BSE, 1,497 shares rose and 2,499 shares fell. A total of 123 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 4.37% to 12.72.
For the financial year 2024-25, the S&P BSE Sensex has risen 5.11% while the Nifty 50 index has gained 5.34%. The S&P BSE MidCap Index and the S&P BSE SmallCap Index have added 5.62% and 8.04%, respectively.
The stock exchanges will be shut on Monday, 31 March 2025, on the occasion of Eid.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 1.46% to 6.691 as compared with the previous close of 6.701.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.4650, compared with its close of 85.7450 during the previous trading session.
MCX Gold futures for the 4 April 2025 settlement rose 0.69% to Rs 89,000.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.20% to 104.47.
The United States 10-year bond yield fell 1.01% to 4.325.
In the commodities market, Brent crude for May 2025 settlement lost 13 cents or 0.18% to $73.90 a barrel.
Global Markets:
Markets in Asia ended mostly in the red while their European counterparts mostly traded in the red on Friday. Investors remain cautious ahead of the scheduled implementation of tariffs on automakers from April 2 onwards.
U.S. President Donald Trump's move to impose a 25% tariff on auto imports, which would take effect next week, is drawing fierce criticism from politicians and industry executives across the globe. Global car makers have issued a warning that price hikes were likely on the way in the aftermath of the newly imposed tariffs.
The widening of the global trade war that Trump kicked off upon regaining the White House has jolted the markets, with shares of global automakers hit particularly hard.
In Europe, France's harmonized inflation rate, adjusted for comparison with other eurozone countries, rose by 0.9% in March, the same as in February, according to data from the statistics agency Insee. Service prices increased by 2.3%, compared to 2.2% in February. However, energy prices were 6.2% lower compared to a 5.8% decline the previous month.
The UK economy posted modest growth in the final quarter of 2024, with gross domestic product (GDP) increasing by 0.1% between October and December, which was unchanged from previous estimates, according to the latest figures from the Office for National Statistics (ONS).
This follows a period of stagnation, with zero growth recorded in the third quarter. However, the ONS also reported a slight dip of 0.1% in GDP for January 2025.
The Stock Exchange of Thailand announced the immediate suspension of all trading activities following a strong earthquake in Myanmar.
Markets in the US recorded some selling on Thursday, with U.S. President Donald Trump's administration expanding the trade war to autos with its latest round of tariffs.
The Dow Jones Industrial Average (.DJI), opening a new tab, fell 155.09 points, or 0.37%, to 42,299.70; the S&P 500 (.SPX), opening a new tab, fell 18.89 points, or 0.33%, to 5,693.31; and the Nasdaq Composite (.IXIC), opening a new tab, fell 94.98 points, or 0.53%, to 17,804.03.
Stocks in Spotlight:
BSE surged 16.09% after the country's market regulator, SEBI, announced a proposal to rejig the derivatives expiry schedule in the domestic equity markets.
On Thursday, the Securities and Exchange Board of India (SEBI) published a consultation paper that stated that every stock exchange will be allowed one weekly benchmark index options contract on their chosen day'either Tuesday or Thursday. This has been proposed with the intent to ensure optimal spacing exists between expiry dates.
The National Stock Exchange (NSE) had earlier proposed to shift its expiry to Monday from Thursday, with the change kicking in from April 4. Post the announcement of this proposal from SEBI, NSE's plan to shift its derivatives expiry day to Monday from Thursday has been put on hold. The market regulator has advised exchanges not to tweak the schedule until a new policy kicks in.
Zaggle Prepaid Ocean Services rallied 4.47% after the company announced that its board had approved the acquisition of a 51% stake in Effiasoft for Rs 41.31 crore.
Force Motors rose 2.96% after the company announced that it has signed a landmark contract with Indian Defence Forces to supply 2,978 Force Gurkha light vehicles.
BEML rose 2.78% after the company announced that it has secured a metro car supply and maintenance contract from Bengaluru Metro Rail Corporation (BMRCL) worth Rs 405 crore.
HBL Engineering advanced 1.40% after the company announced that it has bagged two contracts totaling Rs 499.68 crore from Western Railway and North Central Railway.
Indian Renewable Energy Development Agency shed 0.80%. The company informed that it has signed a facility agreement for raising external commercial borrowing (ECB) from SBI Tokyo Branch for JPY 26 billion (Rs 1,476 crore), including a green shoe option of JPY 10 billion.
The five-year unsecured loan will be repaid in a single payment at maturity and is expected to enhance IREDA's presence in global financial markets.
North Eastern Carrying Corporation (NECC) declined 3.63%. The company won a contract from Tata Steel. The order is for the transportation of steel products from Tata Steel's Sahibabad factory to other destinations.
Sterlite Technologies (STL) fell 2.02%. The company, in consortium with Dilip Buildcon, announced that it had received an advance work order (AWO) worth Rs 2,631.14 crore from Bharat Sanchar Nigam (BSNL).
Bharat Heavy Electricals (BHEL) advanced 0.96%. The company announced that it had received a Letter of Intent (LoI) worth approximately Rs 11,800 crore.
Ambuja cements fell 1.11%. The company said that its board of directors has approved the appointment of several key senior management personnel for their company.
Bharat Heavy Electricals (BHEL) advanced 0.75%. The company announced that it had received a Letter of Intent (LoI) worth approximately Rs 11,800 crore.
Ashok Leyland shed 0.53%. The company announced that its defence business has secured multiple orders worth over Rs 700 crore for troop transportation, logistics, and other specialized mobility solutions under the Close-in Weapon Systems (CIWS) program.
Hindustan Petroleum Corporation (HPCL) rose 0.15%. The firm has announced the appointment of Rajneesh Narang as chief financial officer (CFO), effective March 27, 2025.
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