The 30-share Sensex dropped by 191.51 points, or 0.25%, closing at 77,414.92 levels. Meanwhile, the NSE Nifty50 fell by 72.60 points, or 0.31%, ending at 23,519.35.
The broader market also followed a similar trend, with both the Nifty Midcap100 and Nifty Smallcap100 indices closing in the red. The Midcap100 index fell by 0.32%, while the Smallcap100 was down by 0.15%.
However, despite the slight drop, FY25 overall marked a positive year for the Indian markets. The Sensex and Nifty50 both ended the fiscal year with a gain of nearly 5%, and the Midcap100 and Smallcap100 indices posted even better performance, with gains of 5.4% and 7.48%, respectively.
Impact on the stock market
The day’s sectoral performance revealed a mixed picture. While the financial services, FMCG, private banks, and select healthcare sectors managed to hold up, most other sectoral indices took a hit.
Notably, the Nifty IT index was one of the worst performers, dropping 1.76%. This decline was largely attributed to heavy losses in major IT stocks such as Wipro, LTIMindtree, HCL Tech, and Persistent Systems.
On the flip side, the India VIX—which measures the volatility in the market—spiked by 4.37%, ending at 12.72. This suggests that investors were preparing for some uncertainty in the coming days.
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| Sector/Index | Performance |
| IT & BPM sector | -1.76% |
| Healthcare sector | -0.47% |
| Oil & Gas sector | -0.03% |
| Real estate sector | -1.42% |
| PSU Bank in India | -0.52% |
Top gainers today
| Company | Price | Change % |
| TATA Cons. Prod Share Price | 1,001.90 | 2.91 |
| Kotak Mahindra Share Price | 2,171.20 | 2.00 |
| Apollo Hospital Share Price | 6,616.20 | 1.91 |
| ONGC Share Price | 246.38 | 1.74 |
| Tata Motors Share Price | 674.45 | 0.88 |
Top losers today
| Company | Price | Change % |
| Wipro Share Price | 262.25 | -3.66 |
| IndusInd Bank Share Price | 649.85 | -3.52 |
| Shriram Finance Share Price | 656.00 | -3.32 |
| Cipla Share Price | 1,442.20 | -2.74 |
| M&M Share Price | 2,665.80 | -2.46 |
Market aftermath: Impact on stocks
Cyient DLM shares soar after upgrade by Kotak
Shares of Cyient DLM, a small-cap IT player, saw a sharp rise of over 8% after receiving an upgrade from Kotak Institutional Equities. The upgrade came on the back of the stock’s sharp price correction, which led Kotak to revise its rating from ‘Sell’ to ‘Reduce’.Â
Cyient DLM, which is expected to benefit from increased demand in European defense, saw its stock trading at ₹ 458.6 per share by 3:05 PM, marking a 2.8% rise from the previous close. However, the brokerage still cut its fair value target on the stock to ₹ 440 from ₹ 560 earlier.
Also read: CYIENT Stock Analysis by Ketan Mittal (SEBI RA)
Shree Cement gets a ‘buy’ rating from Nomura
In an encouraging turn, Shree Cement saw its stock jump by 4% after it received a ‘buy’ rating upgrade from Nomura. The Japanese brokerage raised its target price on the stock to ₹ 34,000 from ₹ 28,000, which implies a 12% upside from its previous session’s closing price.Â
The upgrade was prompted by Shree Cement’s improved utilisation levels and the expected recovery in cement demand. The stock, which had gained 20% over the past 12 months, was trading at ₹ 30,718.55 on the NSE by 1 PM.
Kesoram Industries sees a sharp decline after block deal
In contrast, shares of Kesoram Industries plunged by more than 5% following a major block deal, where around 3.5% of its equity, or approximately 10.85 million shares, changed hands in a single transaction.
This massive increase in trading volume—over 28 times the three-month average—was a key factor in the decline. On top of that, Kesoram’s Q3FY25 earnings showed a significant widening of its net loss to ₹ 69.17 crore, up 38% from the previous year. The company also saw a slight 1.4% decline in its revenue, further dampening investor sentiment.
Crude oil trades lower as market assesses US tariff impact
Moving on to global markets, crude oil prices traded lower on March 28 due to the market’s concern over the upcoming US tariffs. At 9:55 AM, June Brent crude was priced at $73.27, marking a 0.10% drop, while WTI was at $69.86, down 0.09%.
The market is cautious ahead of the 25% tariff on imported automobiles and parts set to take effect from April 2, as announced by the Trump administration. This new tariff plan has created uncertainties over the global demand for commodities like crude oil, especially as the automobile industry is one of the major consumers of oil.
Meanwhile, there were mixed signals from the US oil inventory data, which showed a decline of 3.3 million barrels in crude oil stocks, lower than what the market had expected. The volatility in oil prices adds another layer of uncertainty for the markets.
Conclusion
The stock market had a rather subdued finish for FY25, with a slight dip in the major indices. While the performance over the fiscal year was solid, the last session showed some caution, especially in the IT sector.
On the stock-specific front, Cyient DLM, Shree Cement, and Kesoram Industries showed contrasting performances, with one rising on an upgrade, another benefiting from an improved outlook, and the latter hit by a large block deal and disappointing earnings.
As the markets head into a long weekend, with the markets closed on March 31 for Eid, investors will likely remain cautious, watching out for any developments in global trade and oil prices.
Whether these uncertainties will continue to weigh on sentiment in the coming week remains to be seen, but for now, the Indian markets are reflecting a cautious optimism as FY25 concludes.
Stay tuned for more such share market news and daily insights right here at StockGro.
