The trading day started on a positive note, with the BSE Sensex opening 170 points higher at 74,270 and touching an intraday high of 74,392. However, the index slid to a low of 73,598, a fall of nearly 794 points from the day’s peak. Eventually, it closed at 74,030, down 73 points or 0.1%.
On the other hand, NSE Nifty 50 hit a high of 22,577 but dropped sharply to 22,330 before settling at 22,470.50, down 27 points or 0.12%.
This marked the fourth consecutive session of decline for Sensex, signalling caution in the broader market.
Impact on the stock market
Sectorial performance:
The BSE IT index crashed over 3%, with Nifty IT closing 2.91% lower. All major IT names ended in the red. The sell-off was triggered by fresh concerns around a potential US recession, and brokerage downgrades that added fuel to the fire.
Realty, Media, PSU Banks also struggled
- Nifty Realty index fell 1.65%
- Nifty Media index was down 1.53%
- Nifty PSU Bank index slipped 1.08%
Private banks tried to cushion the fall
Amid all the chaos, private banks emerged as the silver lining.
- Nifty Private Bank index rose 0.73%
- Nifty Bank index was up 0.42%
This support from banks helped cap the overall losses on the benchmark indices.
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| Sector/Index | Performance |
| IT & BPM sector | -2.91% |
| Healthcare sector | 0.58% |
| Oil & Gas sector | 0.36% |
| Real estate sector | -1.65% |
| PSU Bank in India | -1.08% |
Top gainers today
| Company | Price | Change % |
| IndusInd Bank Share Price | 684.70 | 4.38 |
| Tata Motors Share Price | 668.30 | 3.12 |
| Kotak Mahindra Share Price | 1,982.55 | 2.45 |
| Bajaj Finance Share Price | 8,484.45 | 1.73 |
| ITC Share Price | 412.40 | 1.53 |
Top losers today
| Company | Price | Change % |
| Infosys Share Price | 1,563.80 | -4.26 |
| Wipro Share Price | 262.20 | -3.31 |
| Tech Mahindra Share Price | 1,408.80 | -2.77 |
| Nestle Share Price | 2,191.65 | -2.48 |
| TCS Share Price | 3,486.85 | -1.93 |
Market aftermath: Impact on stocks
Infosys fell on downgrade rating
Infosys was the biggest drag on the indices today, falling nearly 5%, hitting an eight-month low.
This sharp decline came after Motilal Oswal downgraded Infosys to ‘Neutral’, citing weak sentiment due to global geopolitical risks and potential trade war fears from US tariffs. Morgan Stanley also rated the stock ‘Equal Weight’, stating a preference for TCS over Infosys.
Brokerages highlighted that US clients are becoming cautious in their discretionary IT spending, leading to revenue uncertainty for companies like Infosys.
Other tech names like Tech Mahindra, TCS, and HCL Tech also saw similar pressure, with losses ranging from 1–3%.
PB Fintech: ₹696 crore plan didn’t impress
PB Fintech, the parent company of Policybazaar, saw its shares fall over 5.49%, touching an intraday low of ₹1,388.25.
The company had announced a ₹696 crore investment in its subsidiary PB Healthcare Services Pvt Ltd, aimed at scaling business in FY2025–26. But the market didn’t see this as a compelling near-term growth trigger.
This fall came right after a short two-day recovery, showing how sensitive investors are to capital allocation decisions and return expectations.
Also read: PB Fintech’s Policybazaar & Paisabazaar
RailTel: Declares dividend, but stock under pressure
PSU firm RailTel Corporation of India Ltd announced a second interim dividend of ₹1 per share (10%) for FY2024–25. The record date is set as April 2, 2025, and payment is scheduled for April 9, 2025.
Yet, the stock didn’t see much cheer. RailTel shares dropped nearly 2%, closing at ₹289.75, despite a decent dividend history—totalling ₹2.85 per share over the past year.
Technical analysts pointed out that the stock is near a strong resistance at ₹299, and the downtrend may continue with a potential downside target of ₹249.
Crude oil: Prices inch up on EIA forecast
Crude oil prices saw a small rise globally today, supported by expectations of a drop in global inventories during the first half of 2025.
Here’s how crude oil traded:
| Contract | Price | % Change |
| May Brent Crude | $70.08 | ↑ 0.75% |
| April WTI Crude | $66.79 | ↑ 0.82% |
| March MCX Crude (India) | ₹5,827 | ↑ 0.64% |
| April MCX Crude (India) | ₹5,821 | ↑ 0.55% |
The US EIA expects crude oil prices to reach $75 per barrel by Q3 2025, citing reduced output in Iran and Venezuela. However, oil prices may come under pressure again later in 2025 and into 2026, once OPEC+ cuts are lifted and non-OPEC output increases.
Additionally, US crude inventories increased by 4.2 million barrels, which was higher than expected. Yet, falling gasoline and Cushing inventories helped balance the sentiment.
Natural gas futures on MCX, however, declined by 2.67%, trading at ₹379.60.
Conclusion:
So, what does today tell us? The stock market is clearly in a wait-and-watch mode. IT stocks, which were once the pillar of strength, are now facing pressure due to macroeconomic concerns and downgrade calls.
On the flip side, private banks and select blue-chip stocks continue to attract buyers, giving some hope.
But with global uncertainties, sector-specific risks, and cautious investor behaviour, volatility is likely to stay. For now, being selective and focusing on companies with strong fundamentals might be a smarter move.
Stay tuned, stay informed.
For more stock market insights, check out the StockGro blog.
