Freaky Fry-Day: Nifty Drops Below 23K, Sensex Slides Amid Weakening Investor Sentiment Post Tariffs 

The Indian stock market witnessed continued pressure on April 4 following a weakening of investor sentiments amid the announcement of reciprocal tariffs by the US. The headline indices closed lower with the Nifty shedding 345.65 points or 1.49 per cent at the close to end at 22,904.45 levels. The Sensex also ended at 75,364.69 level down by 930.67 points or 1.22 per cent.

Top Gainers And Losers On April 4

As many as 42 constituents of the Nifty 50 index closed in the red and 8 stocks bucked the trend amid sharp broad-based corrections in the market. Metal sector stocks declined the most with Tata Steel and Hindalco shares falling the most, closing lower by up to 8.43 per cent. Shares of ONGC, Tata Motors and Cipla also closed lower by as much as 7.07 per cent. Consumption-focused stocks and banking sector stocks emerged as the top-gainers with Bajaj Finance, Tata Consumer Products Ltd, HDFC Bank and Apollo Hospitals closed in the green up by as much as 1.69 per cent.

Nifty FMCG Skips Selling Spree

While most major sectoral indices ended in the red, the Nifty FMCG index skipped the selling spree for a second day. The index closed in the green up by 0.04 per cent. On the other hand, the Nifty Pharma and the Nifty Metal index were the worst hit closing lower by 4.03 per cent and 6.56 per cent respectively. The broader market indices also posted declines with the Nifty MidCap 100 and the Nifty SmallCap 100 closing lower by as much as 3.56 per cent.

Global Markets

Wall Street witnessed a sharp selloff following the tariff announcements with the Dow Jones index, S&P 500 and the Nasdaq closing lower by as much as 5.97 per cent. European markets also declined towards the close with the FTSE 100, CAC 40 and the DAX Performance Index closing lower by as much as 4.97 per cent. Asian indices also ended in the red following the Tariff announcement with the Nikkei and the SET Composite closing lower by as much as 3.25 per cent.

Primary Market Action On April 4

Shares of Retaggio Industries Ltd, Spinaroo Commercial Ltd and Infonative Solutions Ltd are scheduled to make their D-street debut in the upcoming week on the BSE SME platform.

Cues To Watch

While Trump’s tariffs have already been announced, the US President has hinted at further tariffs on its allies in select sectors which have been kept exempt thus far. Notably, the Non-Farm Payroll data for the US is also likely to be released today.