Nifty Closes Below 22,400, Sensex Ends Lower By 379 Points As IT And Banking Stocks Decline

Indian stock market closed in the red on April 9 with the Nifty 50 index declining 136.7 points or 0.61 per cent to close at 22,399.15 levels. The 30-share Sensex also closed lower by 379.93 points or 0.51 per cent at 73,847.15.

Banking and IT Stocks Lead Losers

As many as 32 constituents of the 50-share Nifty index closed in the red and 18 constituents closed in the green. Shares of domestic IT companies emerged as top drags with Wipro shares closing lower by 4.23 per cent and Tech Mahindra shares closing lower by 3.31 per cent.

Shares of State Bank of India, Larsen & Toubro Ltd and Trent Ltd closed lower by as much as 3.4 per cent. On the other hand shares of FMCG companies such as Nestle India and Hindustan Unilever Ltd closed higher by up to 3.28 per cent. Shares of Titan, Power Grid Corporation of India Ltd and Titan closed higher by up to 1.81 per cent.

Consumption Focused Indices End Higher

Domestic consumption-focused indices such as the Nifty Auto, Nifty FMCG and Nifty Consumer Durables closed higher by as much as 1.78 per cent. On the other hand Nifty IT and Nifty Pharma declined the most among the sectoral pack, closing lower by up to 2.19 per cent. Broader market indices such as the Nifty SmallCap 100 and the Nifty MidCap 100 closed lower by 0.86 per cent. The India VIX index closed higher by 4.83 per cent, indicating an increase in volatility.

Global Markets

Wall Street indices such as the Dow Jones, S&P 500 and Nasdaq closed lower by as much as 2.15 per cent on April 8. At the time of writing European indices such as the Dax Performance Index, CAC 40 and the FTSE 100 traded lower by 3.64 per cent. Asian indices such as the Nikkei 225 traded lower by 4.09 per cent and on the other hand the Hang Seng and the Shanghai Composite traded higher by as much as 1.29 per cent.

Cues To Watch

The Reserve Bank of India announced a 25 bps rate cut on April 9, the second rate cut announced so far in 2025. Notably, the stock market will remain closed on April 10 on account of Mahavir Jayanti.