As per provisional closing data, the barometer index, 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, 1,491 shares rose and 2,507 shares fell. A total of 121 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.

Buzzing Index:

The Nifty Media fell 2.29% to 1,475.25. The index advanced 1.52% in the past trading session.

Tips Music (down 4%), Network 18 Media & Investments (down 3.45%), Dish TV India (down 3.43%), Zee Entertainment Enterprises (down 3.26%), Sun TV Network (down 2.33%), PVR Inox (down 2.19%), D B Corp (down 2.08%), Hathway Cable & Datacom (down 0.61%), Nazara Technologies (down 0.16%) and Saregama India (down 0.16%) declined.

Stocks in Spotlight:

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.

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.

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 0.75%. The company announced that it had received a Letter of Intent (LoI) worth approximately Rs 11,800 crore.

BEML rose 2.92% 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.

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.

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.

North Eastern Carrying Corporation (NECC) surged 8.96% after 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.

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 fell 2.13%. 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.

Global Markets:

Markets in Asian 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.

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