The BSE Sensex dropped by 930.67 points (1.22%) to close at 75,364.69, while the NSE Nifty50 ended at 22,904.45, down 345.65 points (1.49%). Throughout the day, the Sensex fluctuated between 76,258.12 and 75,240.55, reflecting the uncertainty on Dalal Street.
This sharp sell-off came as a reaction to global cues, with Indian equities mirroring the sentiment of risk aversion gripping international markets.
The broader market took a bigger hit, especially small-cap stocks, as the Nifty Smallcap100 index nosedived 3.56%, and the Nifty Midcap100 index dropped 2.91%.
Impact on the stock market
Metal, IT, Oil & Gas, PSU Bank, Auto, and Realty were the worst hit, declining 2% to 6.5%.
Nifty Financial Services and FMCG were the only sectors to hold their ground, ending in the green, offering a small cushion in an otherwise bruising session.
The India VIX—a barometer for market volatility rose by 1.13%, ending at 13.76, signalling growing anxiety among investors.
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| Sector/Index | Performance |
| IT & BPM sector | -3.58% |
| Healthcare sector | -3.05% |
| Oil & Gas sector | -3.78% |
| Real estate sector | -3.60% |
| PSU Bank in India | -2.43% |
Top gainers today
| Company | Price | Change % |
| TATA Cons. Prod Share Price | 1,087.85 | 1.57 |
| Bajaj Finance Share Price | 8,718.85 | 1.45 |
| HDFC Bank Share Price | 1,817.30 | 1.25 |
| Nestle Share Price | 2,262.15 | 0.73 |
| Apollo Hospital Share Price | 6,714.55 | 0.65 |
Top losers today
| Company | Price | Change % |
| Tata Steel Share Price | 140.39 | -8.61 |
| Hindalco Share Price | 599.95 | -8.07 |
| ONGC Share Price | 226.01 | -7.11 |
| Tata Motors Share Price | 613.85 | -6.13 |
| Cipla Share Price | 1,415.25 | -5.38 |
Market aftermath: Impact on stocks
DMart drops despite good news
Shares of Avenue Supermarts (DMart) ended nearly 3% lower, trading around ₹4,039, even after reporting strong quarterly updates.
Here’s what they announced:
- Revenue rose 16.7% YoY, hitting ₹14,462 crore for Q4FY25.
- 28 new stores were added during the quarter—the highest ever in any Q4—bringing the total to 415.
So, why the fall?
Despite the positive numbers, analyst sentiment remained cautious. Citi Research retained a ‘Sell’ rating, giving it a target price of ₹3,350, implying a 19% downside from its previous close of ₹4,158. The street seems to be aligning with the scepticism for now.
Also read: Avenue Supermarts Share Price Hits Upper Circuit with 10
Union Bank crashes 5% after missing growth guidance
Union Bank of India shares sank over 5% after its Q4FY25 business update revealed a significant miss on loan and deposit growth guidance.
Key numbers:
- Loan book rose by 8.6%, falling short of the guided 11–13% range.
- Total global deposits rose only 7.22%, versus the guidance of 9–11%.
- Domestic deposits grew by just 6.05% YoY.
Investors reacted swiftly to the underperformance, erasing gains from the previous two sessions and reflecting concerns about PSU banks failing to meet expectations.
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Bajaj Finance gains over 2% on strong Q4 update
On a brighter note, Bajaj Finance managed to buck the market trend, ending 2% higher after posting robust quarterly numbers.
Highlights:
- AUM (Assets Under Management) surged 26% YoY to ₹4.17 lakh crore.
- Loan disbursals jumped 36% YoY, touching 1.07 crore in Q4FY25.
- Customer franchise expanded by 22% to 10.18 crore.
- Deposit book increased by 19% to ₹71,400 crore.
This positive business update helped the NBFC break its four-day losing streak, which began after hitting a 52-week high of ₹9,260 on March 25.
However, not everything was rosy. The company reportedly received a ‘letter of displeasure’ from the RBI regarding lapses in its co-branded credit cards business. Despite this, the stock’s overall performance today shows investors are currently favouring the company’s growth story over regulatory hiccups.
Crude oil futures sink
Adding fuel to the market’s woes (or perhaps taking it away), crude oil prices fell further, building on Thursday’s massive 6% drop. This followed OPEC+’s decision to ramp up production, coupled with rising fears of a global slowdown due to fresh tariffs by the US.
- Brent crude fell to $69.50 (down 0.91%)
- WTI crude dropped to $66.29 (down 0.99%)
- On the Indian MCX, April futures slipped 1.38% to ₹5,656
The oil market was already on edge due to slowing global demand, and the surprise move by OPEC+ to increase supply by 411,000 barrels/day starting May 2025 has raised fears of a supply glut.
Analysts from ING believe that tariff uncertainties, especially a 54% tariff on Chinese imports by the US, could significantly dampen global energy demand, particularly since China is a major oil consumer.
Interestingly, OPEC+ has framed the increase as a response to “healthy market fundamentals,” but many are questioning the timing and motivations—whether political or economic.
Conclusion
Today’s market action highlights how global politics and domestic fundamentals are closely intertwined. Tariff fears, oil dynamics, and mixed Q4 earnings updates have created a cocktail of caution on Dalal Street.
Key takeaways:
- Broader market weakness is setting in, especially among small- and mid-cap stocks.
- Even companies with positive results (like DMart) aren’t immune to market sentiment.
- Select stocks like Bajaj Finance are shining bright, but may face their own challenges soon.
As volatility picks up, especially with the India VIX ticking higher, investors should brace for more sharp movements and adopt a wait-and-watch approach in the short term.
For now, it’s a market on edge navigating between global tremors and domestic earnings.
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