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Indian markets ended lower on April 4, marking a second consecutive decline weighed down by Trump’s tariff. Sensex and Nifty both fell 2.6 percent each, while the IT index suffered the most with a decline of over 9 percent. This was the worst week for the IT index since the pandemic.
At close, the Sensex was down 930.67 points or 1.22 percent at 75,364.69, and the Nifty was down 345.65 points or 1.49 percent at 22,904.45.
Tata Steel, Hindalco, ONGC, and Tata Motors were among the major losers, whereas Tata Consumer Products, Bajaj Finance, HDFC Bank, Nestle, and Apollo Hospitals emerged as the top gainers.
On the sectoral front Metal index plunged 6.5 percent, the Pharma index shed 4 percent, the Realty index tumbled 3.6 percent, the Oil & gas index slipped nearly 4 percent, while the Auto, Consumer Durables, Power, PSU, Media, and Information Technology indices lost 2-3 percent.
Broader indices underperformed the benchmark, with the BSE Midcap index falling 3 percent and the Smallcap index shedding 3.4 percent.
STOCKS TODAY
HDFC Bank
India’s largest lender HDFC bank’s shares hiked by 2.05 percent, as the bank had positive business update for the quarter ended March 31, 2025. The bank’s retail loans expanded by 9 percent, while commercial and rural banking loans surged by 12.8 percent.
Union Bank
Union Bank, a PSU lender, whose shares declined over 5 percent after the business update failed to meet its targeted estimates, breaking its two days of gains. The bank announced that its total loan book increased 8.6 percent to 9.82 crore, however, this was lower than the company’s estimates of 11 to 13 percent. The bank’s total deposits also fell to 7.22 percent, which is below the desired estimates of 9 to 11 percent in the Q4FY25.
D Mart
The shares of the company fell around 3 percent breaking their two day rising streak even though the company performed well in it’s last quarter.
Tata Motors
Automobile giant Tata Motors’ shares continued to face a downfall in value of their shares, which led to the shares falling over 5 percent. This is after Hong Kong-based brokerage CLSA cut their rating on the shares to outperform from high conviction outperform. Further, the pressures from Trump’s tariffs will impact a key subsidiary, Jaguar Land Rover.
Angel One
The company’s shares plummed over 5 percent to trade at Rs 2335.25 per share. Such a fall in its share price was due to the company’s report that there was a 44 percent year-on-year fall in gross client acquisition. Their average daily orders also fell nearly 27 percent.
Source – Money Control
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