Sensex Closes Nearly 1400 Points Lower Above 76,000, Nifty Down 1.5 Per Cent Ahead of Trump’s Tariff Imposition

Sensex, Nifty Closing Bell: On April 1, the first trading session of the new financial year, Indian indices closed in the red ahead of the imposition of reciprocal trade tariffs by US President Donald Trump. The Nifty 50 index ended at 23,165.7 level down by 353.65 points or 1.5 per cent. The Sensex ended at 76,024.51 level down by 1390.41 points or 1.8 per cent.

Top Gainers And Losers On April 1

As many as 36 out of the 50 constituents of the Nifty 50 declined on April 1. On the other hand, 13 stocks closed in the green and Wipro’s share price remained unchanged. HCL Technologies, Bharat Electronics Ltd, Bajaj Finserv, HDFC Bank and Hindalco shares emerged as top drags closing lower by as much as 3.64 per cent on the NSE. On the other hand shares of IndusInd Bank Ltd, Trent Ltd, Jio Finance and Bajaj Auto emerged as top drags bucking the trend seen in the index as they closed up to 5.06 per cent higher.

Most Major Sectoral Indices End Lower

Most major sectoral indices ended lower on April 1 with Nifty IT and Nifty Realty declining the most, closing lower by as much as 3.11 per cent. Ahead of the imposition of the Trump tariffs the broader market indices also ended lower with the Nifty MidCap 100 closing lower by 0.86 per cent and the Nifty SmallCap 100 closing lower by 0.7 per cent. Notably, the India VIX also closed higher by 6 per cent at 22.95 levels indicating high volatility in the upcoming days.

Global Markets

US indices traded mixed as the date of the tariff imposition got closer. Dow Jones Futures and the Nasdaq closed lower by as much as 0.57 per cent while the S&P 500 closed higher by 0.55 per cent. Asian indices closed flat with a positive bias as Japan’s Nikkei 225, Hong Kong-based Hang Seng and China’s Shanghai Composite closed higher by up to 0.38 per cent.

Primary Market Action

Shares of Desco Infratech Ltd are listed at a premium on the BSE SME platform as the stock debuted at Rs160 gaining 6.67 per cent higher than the issue price of Rs 150.

Cues To Watch

Apart from the imposition of the Trump tariffs, Goldman Sachs' US recession probability rising to 35 per cent and its lower S&P 500 projection is likely to impact the markets in the coming days.