The BSE Sensex closed at 77,288.50 today, down by 728.69 points or 0.93%. This marked a day of correction after a series of gains. The index fluctuated between 78,167.87 and 77,194.22, showing some volatility within the day.
On the other hand, the NSE Nifty50 dropped 181.8 points or 0.77% to settle at 23,486.85. The index reached a high of 23,736.50 but fell to an intra-day low of 23,451.70, reflecting the choppy session. It was a day where investors chose to take profits, especially after the recent rally.
The Nifty Midcap100 and Nifty Smallcap100 indices dropped by 0.62% and 1.07%, respectively.
Impact on the stock market
Sectoral performance:
Almost all sectors faced declines, among the sectoral indices, only Nifty Auto managed to stay slightly positive, up by just 0.02%.
The real damage was done in the Nifty PSU Bank, IT, Financial Services, Healthcare, Realty, and Oil & Gas sectors. Each of these saw a fall of over 1%, showing a broader market retreat. The sharp pullback in these sectors helped drag down the overall market.
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| Sector/Index | Performance |
| IT & BPM sector | -0.98% |
| Healthcare sector | -1.28% |
| Oil & Gas sector | -1.36% |
| Real estate sector | -1.29% |
| PSU Bank in India | -1.19% |
Top gainers today
| Company | Price | Change % |
| UltraTechCement Share price | 11,421.20 | 3.35 |
| Bajaj Finserv Share price | 1,945.05 | 2.69 |
| Trent Share price | 5,185.05 | 2.58 |
| Infosys Share price | 1,628.45 | 2.24 |
| Grasim Share price | 2,569.45 | 2.24 |
Top losers today
| Company | Price | Change % |
| IndusInd Bank Share price | 637.05 | -4.84 |
| Dr Reddys Labs Share price | 1,177.90 | -2.68 |
| Adani Enterpris Share price | 2,320.35 | -2.04 |
| Coal India Share price | 398.30 | -1.90 |
| Adani Ports Share price | 1,182.45 | -1.53 |
Market aftermath: Impact on stocks
HAL shares surge 3% on major defence deal
One of the few bright spots in the market today was Hindustan Aeronautics (HAL). The stock surged by 3% after GE Aerospace delivered the first of the 99 F404-IN20 engines for the Tejas Light Combat Aircraft Mk 1A. This marks a major milestone in a deal signed between the two companies in 2021 worth ₹ 5,375 crore.
Despite the delays in the engine delivery, which was initially expected to start in 2023, the milestone was significant. Investors cheered this positive news, pushing HAL’s stock price up to ₹ 4,152 in the afternoon. This development signals strong growth potential for HAL in India’s defence sector and provides an encouraging outlook for its future in the defence manufacturing space.
ABB India shares rise 3.28%
Another stock that had a good day was ABB India, which surged 3.28% to ₹ 5597.95. This surge was supported by high trading volumes and investor optimism about the company’s financial health. ABB India has shown steady growth in revenue and net profit over the years, with a significant uptick in EPS (Earnings Per Share) over the past five years.Â
For the December 2024 quarter, the company posted a net profit of ₹ 528.41 crore, and its revenue stood at ₹ 3,364.93 crore. Investors seem to be confident in ABB India’s future performance, especially considering its solid position in key indices such as Nifty Next 50 and Nifty 500. This solid financial track record has contributed to the stock’s robust performance in today’s market.
Also read: ABB Share Price Soars 5% After 54% Net Profit Growth
IndusInd Bank shares rise 3.5%
IndusInd Bank shares saw a 3.5% increase today, driven by news that the private lender was likely to hire two global recruitment firms, Egon Zehnder and Korn Ferry, to find key executive positions. This includes hiring a new CEO, CFO, and other senior executives to steer the bank’s future.Â
These recruitment efforts come after the bank faced some challenges under its current leadership. The news of these appointments led to a surge in investor confidence, with shares trading as high as ₹ 660. It appears that the market sees this restructuring as a positive move for the bank’s growth and leadership stability.
You may also read: IndusInd Bank Share Price Target – Today Live Updates
Crude oil prices remain flat despite geopolitical tensions
Despite some geopolitical pressure, crude oil futures barely moved today. U.S. President Donald Trump’s recent threat of imposing a 25% tariff on countries buying oil from Venezuela did little to affect the oil market. Brent oil futures were up by just 0.01% to $72.38, while WTI futures also saw a minimal increase of 0.01%, trading at $69.12.
This flat movement in oil prices, despite the threat of new tariffs, suggests that the market is taking a cautious stance, waiting for more concrete details on how these tariffs might impact global oil trade.
Interestingly, Venezuela has been ramping up oil exports, with the US being one of the biggest buyers, but this new tariff could significantly disrupt the oil flow, especially with upcoming sanctions and tariff implementations in April. This has left traders uncertain, reflected in the relatively stable oil prices today.
Conclusion
The Indian stock market ended on a sour note today, driven by profit booking across various sectors and a general sense of caution among investors. While some stocks like HAL, ABB India, and IndusInd Bank performed well, most sectors struggled, and indices such as the Sensex and Nifty50 dropped by substantial margins.
Crude oil futures, too, remained relatively stable in the face of geopolitical threats, indicating that investors are taking a wait-and-see approach.
As we move forward, the focus will likely remain on global economic conditions and corporate earnings reports, with a particular eye on the evolving situation in the oil markets and the broader Indian economy.
Stay tuned for more such share market news and daily insights right here at StockGro.
