Sensex Closes Over 2200 Points Lower, Nifty Declines Over 3 Per Cent To Close Below 22,200

Indian stock market investors witnessed a bloodbath on D-street on April 7 as the headline indices extended losses for the third straight session, as markets across the globe factored in the impact of the US trade tariffs.

The 30-share Sensex shed 2226.79 points at the close or 2.95 per cent to end at 73,137.9 levels. The Nifty 50 index also ended lower at 22,161.6 down by 742.85 points or 3.24 per cent.

Tata Group Stocks Emerge As Top Nifty Losers

On April 7, shares of Tata group companies Trent, Tata Steel and Tata Motors were among the top-Nifty losers along with JSW Steel and Hindalco Industries Ltd. Shares of Trent Ltd lost the most among all constituents of the index as it closed lower by 14.7 per cent on the NSE. While 47 constituents of the 50-share index closed in the red, two stocks managed to buck the trend while one remained unchanged. Shares of Zomato Ltd and Hindustan Unilever closed in the green on the NSE up by 0.22 per cent and 0.24 per cent.

All Sectoral Indices End In Red

Amid broad-based selling, all sectoral indices closed in the red. The Nifty Metal index declined the most, closing lower by 6.75 per cent. Other sectors which also closed in the red included the Nifty Realty and the Nifty Bank index. Broader market indices also closed lower with the Nifty Midcap 100 and the Nifty SmallCap 100 closing lower by as much as 3.88 per cent. The India VIX index gained 65.7 per cent, rising to 22.79 levels, indicating a steep increase in volatility.

Global Markets Trade In Red

Markets across the globe traded in the red. Wall Street indices such as Dow Jones Futures, S&P 500 and Nasdaq closed lower by as much as 5.97 per cent on April 4. European indices such as the UK’s FTSE 100 Index, France’s CAC 40 and Germany’s Dax Performance Index closed lower by as much as 4.52 per cent. Asian indices such as the Nikkei 225 index, Hang Seng and the Shanghai Composite closed lower by 8.49 per cent, 15.24 per cent and 7.93 per cent respectively.

Primary Market Action On April 7

Shares of Retaggio Industries Ltd made their debut on the BSE SME index on April 7. The stock made a flat debut on the BSE SME platform as it listed at Rs 25.1 apiece, up 0.4 per cent.

Cues To Watch

The Reserve Bank of India will begin its three-day Monetary Policy Committee meeting on April 7. The MPC is scheduled to announce the repo rate on April 9.