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EQUITY
Post Session: Quick Review
Apr-09-2025

Indian equity markets ended lower on Wednesday, with both the Nifty and Sensex closing down by over half a percent, as traders were concerned about rising tensions between the U.S. and China, following new reciprocal tariffs on imports into the U.S. Markets made a gap-down opening and remained under selling pressure throughout the day. Traders overlooked report that the Reserve Bank of India (RBI) cut the repo rate by 25 bps for the second consecutive time.

Some of the important factors in trade:

FIIs extend selling streak: Sentiments remained downbeat as the exchange data showed the foreign institutional investors (FIIs) continued their selling for the seventh consecutive session on April 8, as they sold equities worth Rs 4,994.24 crore. 

RBI says trade tariff concerns challenge global markets: Traders were cautious as the RBI said that the global economic outlook is facing new challenges due to recent trade tariff announcements. These developments have caused sharp falls in the dollar index, equity markets, and crude oil prices. 

RBI cuts repo rate by 25 bps: Traders overlooked report that the RBI slashed key interest rate by 25 basis points, for the second time in a row, to support a shuttering economy hit by reciprocal tariffs imposed by the US. 

Global front: European markets were trading in the red as U.S. President Donald Trump pushed ahead with higher duties on roughly 60 trading partners that he dubbed the worst offenders. Asian markets ended mostly in red as Japan's consumer sentiment decreased further in March to the lowest level in two years. The seasonally adjusted consumer confidence index weakened to 34.1 in March from 34.8 in February. 

The BSE Sensex ended at 73847.15, down by 379.93 points or 0.51% after trading in a range of 73673.06 and 74103.83. There were 12 stocks advancing against 18 stocks declining on the index. (Provisional)

The broader indices ended in red; the BSE Mid cap index was down by 0.73%, while Small cap index down by 1.08%. (Provisional)

The few gaining sectoral indices on the BSE were FMCG up by 1.51%, Consumer Durables up by 0.32% and Auto up by 0.07%, while IT down by 2.01%, Realty down by 2.00%, Capital Goods down by 1.65%, TECK down by 1.57% and Metal down by 1.44% were the top losing indices on BSE. (Provisional)

The top gainers on the Sensex were Nestle up by 3.24%, Hindustan Unilever up by 2.52%, Power Grid up by 1.97%, Titan Company up by 1.66% and Ultratech Cement up by 0.95%. On the flip side, SBI down by 3.43%, Tech Mahindra down by 3.35%, Larsen & Toubro down by 3.23%, Tata Steel down by 2.30% and Sun Pharma down by 2.18% were the top losers. (Provisional)

Meanwhile, the Asian Development Bank (ADB) in its latest report titled ‘the Asian Development Outlook (ADO) April 2025’ has said that India’s gross domestic product (GDP) is expected to expand by 6.7% in fiscal year (FY) 2025, on account of higher domestic demand, rising rural incomes, a strong services sector, and moderating inflation that will boost consumer confidence.

 ADB further noted that favorable monetary and fiscal policies are expected to sustain the growth momentum, with GDP projected to increase by 6.8% in FY2026. It said these growth forecasts were finalized prior to the April 2 announcement of new tariffs by the US administration, so the baseline projections only reflect tariffs that were in place previously.

According to the report, consumption will be a major growth driver, fueled by rising rural incomes and increased demand from urban middle-class and affluent households thanks to reductions in personal income tax rates. Additionally, moderating inflation is expected to further boost consumer sentiment with rates projected at 4.3% in FY2025 before declining slightly to 4.0% in FY2026. Falling inflation would create policy space for more cuts to repo rate even with global financial uncertainty.

ADB further said that the services sector will remain a key growth driver, supported by the expansion of business services exports, education, and health services. The agriculture sector is expected to maintain strong growth in FY2025, driven by robust winter crop sowing, particularly wheat and pulses. Meanwhile, the manufacturing sector is anticipated to rebound after experiencing tepid growth in FY2024.

The CNX Nifty ended at 22399.15, down by 136.70 points or 0.61% after trading in a range of 22353.25 and 22468.70. There were 15 stocks advancing against 35 stocks declining on the index. (Provisional)

The top gainers on Nifty were Nestle up by 3.05%, Hindustan Unilever up by 2.65%, Tata Consumer Produc up by 1.87%, Titan Company up by 1.66% and Power Grid up by 1.54%. On the flip side, Wipro down by 4.29%, SBI down by 3.43%, Larsen & Toubro down by 3.38%, Tech Mahindra down by 3.17% and Trent down by 3.08% were the top losers. (Provisional)

European markets were trading lower; Germany’s DAX lost 622.85 points or 3.07% to 19,657.41, France’s CAC fell 205.86 points or 2.9% to 6,894.56 and UK’s FTSE 100 decreased 201.66 points or 2.55% to 7,708.87.

Asian markets settled mostly down on Wednesday tracking Wall Streets’ fall overnight on concerns over the tariffs war between the US and China after the White House confirmed 104% tariff on China, effective today, following China retaliatory measures against the US. Chinese shares rose amid growing speculation that authorities will roll out stimulus to shield the economy from Trump‘s tariffs. Market participants closely watch further insights into the Fed’s monetary policy outlook ahead to the minutes from the Federal Reserve’s latest policy meeting due today, along with consumer inflation data on Thursday and the producer price report on Friday.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,186.81

41.26

1.29

Hang Seng

20,264.49

136.81

0.68

Jakarta Composite

5,967.99

-28.15

-0.47

KLSE Composite

1,400.59

-42.97

-2.98

Nikkei 225

31,714.03

-1,298.55

-4.09

Straits Times

3,393.69

-75.78

-2.23

KOSPI Composite

2,293.70

-40.53

-1.77

Taiwan Weighted

17,391.76

-1,068.19

-6.14
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