Market snaps two-week gaining streak amid trade war jitters; rupee appreciates- Grow Mudra

Market snaps two-week gaining streak amid trade war jitters; rupee appreciates

05 Apr , 2025 By : Debdeep Gupta

Indian equity market snapped a two-week gaining streak amid fears of a trade war, which led to a global sell-off following US President Donand Trump’s reciprocal tariff announcements and renewed concerns over the economic slowdown.

For the week, the BSE Sensex index shed 2050.23 points or 2.64 percent to close at 75,364.69, and Nifty50 fell 614.9 points or 2.61 percent to end at 22,904.45.

The BSE Large-cap Index plunged 2.5 percent, dragged by Dabur India, Bajaj Holdings & Investment, HCL Technologies, Waaree Energies, Info Edge India, Tata Consultancy Services, Vedanta, while gainers included IndusInd Bank, Indus Towers, Tata Consumer Products, Trent, and Canara Bank.

BSE Mid-cap Index declined 2.5 percent with Punjab and Sind Bank, UCO Bank, Central Bank of India, Persistent Systems, Coforge falling 11-30 percent, while IDFC First Bank, Zee Entertainment Enterprises, GMR Airports, Whirlpool of India, Kalyan Jewellers India rises 9 percent each.

The BSE Small-cap index shed 1.6 percent with Pokarna, Garware Hi-Tech Films, Avanti Feeds, Gensol Engineering, Blue Jet Healthcare, MPS, Sharda Cropchem, Cigniti Technologies falling between 9-25 percent. However, Hester Biosciences, Baazar Style Retail, Primo Chemicals, Shiva Cement, Valiant Organics, Nacl Industries, Vadilal Industries, Sportking India, Ganesh Benzoplast, Vardhman Textiles, Parag Milk Foods, Tarsons Products rising between 21-46 percent.

On the sectoral front, the Nifty Information Technology index records the biggest weekly fall of 9 percent since COVID-19 in 2020 on global growth concerns. Nifty Metal index down 7.5 percent, Nifty Oil & Gas index shed 4 percent, while Nifty Realty and Auto indices slipped 3 percent each.

This week, Tata Consultancy Services lost the most of its market value, followed by Reliance Industries, HCL Technologies, and Infosys. On the other hand, Zomato, Bharti Airtel, and Sun Pharmaceutical Industries added the most to their market cap.

Foreign Institutional Investors (FIIs) turned net sellers this week, selling equities worth Rs 13,730.49 crore, while Domestic Institutional Investors (DII) bought equities worth Rs 5,632.56 crore.

This week, the Indian rupee extended its gains against the US dollar, ending higher by 23 paise at 85.23 per dollar on April 4, compared to the March 28 closing of 85.46.