Stock Market Opens in Red: Sensex Plunges Over 500 Points In Early Trade – IT & Metal Stocks Leads Fall Amid Tariff Concerns

The Indian stock market opened in the red as trading commenced on Tuesday, April 1, marking the first day of the new fiscal year. The benchmark BSE Sensex fell by 572.15 points or 0.74 per cent to 76,842.77 at 9:15 am, while the NSE Nifty declined by 125.35 points or 0.53 per cent to 23,394.00. The market downturn was driven by losses in IT, financial services, and metal stocks, with global factors adding to investor concerns.

Stock Market Performance in the Previous Session

On the last trading day of the previous fiscal year, March 28, the Sensex closed at 77,414.92, down by 191.51 points or 0.25 per cent. Similarly, the Nifty ended at 23,519.35, down by 72.60 points or 0.31 per cent.

“The Nifty’s ongoing retreat from last week’s highs is increasingly looking like a dip within a larger advance,” said Akshay Chinchalkar, Head of Research, Axis Securities. “This is because so far the last gap-up area of 23,402 continues to remain protected.” He also noted that the index is supported by a flattening 100-day average and a seasonal bullish trend.

• The Nifty Media Index fell the most, declining 2.29 per cent to 1,475.25.
• The Nifty IT Index dropped 1.76 per cent to 36,886.15.
• The Nifty Realty Index declined 1.42 per cent to 851.30.

Stock-wise performance within indices:

• Nifty Media: Tips Music (-3.74 per cent), Network18 Media & Investments (-3.58 per cent), Zee Entertainment Enterprises (-3.39 per cent).
• Nifty IT: LTIMindtree (-3.59 per cent), Wipro (-3.56 per cent), Persistent Systems (-2.79 per cent).
• Nifty Realty: Anant Raj (-3.81 per cent), Macrotech Developers (-3.58 per cent), Brigade Enterprises (-2.71 per cent).

Foreign Institutional Investors (FIIs) were net sellers of Rs 4,3Rs 52.82 crore worth of equities, while Domestic Institutional Investors (DIIs) were net buyers, purchasing Rs 7,646.49 crore worth of equities.

• April 1: S&P Global Manufacturing PMI (US) – reflecting business sentiment and industrial output.
• April 2: S&P Global Manufacturing PMI (India) – indicating domestic manufacturing trends.
• April 3: US Initial Jobless Claims – a leading indicator of labour market strength.
• April 4: US Nonfarm Payrolls and Unemployment Rate – key data for assessing job market resilience and inflationary pressures.