The Indian stock market ended the trading session in negative territory on Friday, March 28, as weak global cues and profit booking weighed on investor sentiment. The benchmark indices, Sensex and Nifty 50, closed lower amid concerns over US trade policies and economic uncertainty.
The 30-share BSE benchmark Sensex declined 191.51 points or 0.25 per cent to settle at 77,414.92 in a volatile trading session. During the day, it slumped 420.81 points or 0.54 per cent to 77,185.62.
The NSE Nifty dropped 72.60 points or 0.31 per cent to 23,519.35.
In the 2024-25 financial year, the Sensex jumped 3,763.57 points or 5.10 per cent, and the Nifty climbed 1,192.45 points or 5.34 per cent.
Mid- and small-cap stocks witnessed higher selling pressure, with the BSE Midcap index falling by 0.68 per cent and the Smallcap index slipping 0.35 per cent.
Investor wealth eroded significantly as market capitalisation of BSE-listed firms fell by nearly ₹2 lakh crore, declining from ₹415 lakh crore in the previous session to about ₹413 lakh crore.
Key Market Highlights
The Indian stock market was influenced by weak global trends, particularly concerns over US President Donald Trump’s tariff measures, which have raised fears of a prolonged trade dispute.
Asian and European markets also faced selling pressure, with Japan’s rising Consumer Price Index (CPI) adding to global concerns.
Among the biggest drags on the Sensex were IT and automobile majors such as Infosys, Mahindra & Mahindra, TCS, HCL Tech, and Maruti Suzuki. Market analysts noted that investors were reassessing the impact of US tariffs on sectors like automotive, pharmaceuticals, and manufacturing.
On the Nifty 50, the top gainers included Tata Consumer Products (up 2.91 per cent), Kotak Mahindra Bank (up 2.13 per cent), and Apollo Hospitals Enterprise (up 1.88 per cent).
Meanwhile, the biggest losers were IndusInd Bank (down 3.64 per cent), Wipro (down 3.56 per cent), and Shriram Finance (down 3.28 per cent).
Sectoral indices also saw mixed performances. The Nifty Media index recorded the steepest fall at 2.29 per cent, followed by IT (down 1.76 per cent), Realty (down 1.42 per cent), and Auto (down 1.03 per cent). However, Nifty Financial Services managed to gain 0.25 per cent, while the Nifty Bank index ended flat.
Market Activity and Outlook
The most actively traded stocks in terms of volume were Vodafone Idea (81.77 crore shares), YES Bank (9.81 crore shares), and Reliance Power (8.5 crore shares).
A total of 62 stocks, including SBI Cards and Payment Services, JK Cement, and Shree Cement, hit their 52-week highs, while 428 stocks, including Happiest Minds Technologies and Sona BLW Precision Forgings, touched their 52-week lows.
On the NSE, several stocks registered significant gains, with Sarthak Metals, Generic Engineering Construction, and Dangee Dums rising nearly 20 per cent each. In terms of market breadth, 1,099 stocks advanced on the NSE, while 1,807 declined, and 70 remained unchanged.
Analysts suggest that the Nifty 50 index has crucial support at 23,400, with a further downside possibility towards 23,200 if selling pressure persists. On the upside, a breakout above 23,600 could drive the index higher, with potential resistance at 24,200.
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