Final Trade: Sensex crashes 931 pts, Nifty closes at 22,904 as markets bleed; metals, pharma drag

Indian equity markets took a steep fall on Thursday, April 4, as investor sentiment soured following US President Donald Trump’s tariff announcement imposing a 27 per cent levy on Indian goods. The broader market also felt the heat of a global sell-off, dragging benchmark indices sharply lower.

The BSE Sensex plummeted over 900 points, or 1.18 per cent, to close at 75,364.69, while the NSE Nifty 50 dropped 1.50 per cent, slipping below the 23,000-mark. Market-wide selling pressure led to a sharp contraction in investor wealth, with the total market capitalization of BSE-listed companies falling by Rs 9.5 lakh crore to Rs 403.83 lakh crore.

Sectoral performance: IT index nosedives, PSU banks resist fall

All sectoral indices ended in the red, with severe losses in IT and metal stocks.

• Nifty IT index suffered its biggest weekly fall since March 2020, hitting a 9-month low as tech stocks faced selling pressure.

• Nifty Metal index slumped to a 4-week low, extending its decline for the second consecutive week.

• Nifty SmallCap index remained under pressure, with key laggards like Aegis Logistics and KEC International pulling it lower.

• Nifty PSU Bank index, however, bucked the trend, touching a 2-month high earlier in the week.

Top losers: Tata Steel, Tata Motors lead market fall

Selling was widespread across frontline stocks, with just six stocks closing in positive territory on the BSE Sensex. The worst performers included:

• Tata Steel (-8.59%)

• Tata Motors (-6.15%)

• Larsen & Toubro (-4.67%)

• Adani Ports (-4.38%)

• IndusInd Bank (-3.83%)

On the NSE Nifty 50, shares of Tata Steel, Hindalco, ONGC, Tata Motors, and Cipla were among the biggest losers.

Market outlook: Volatility likely to persist

Thursday’s market rout reflected rising global uncertainty and risk-off sentiment among investors. The breach of key support levels across indices signals a cautious approach, with volatility expected to remain high in the coming sessions.

Market breadth was heavily skewed in favor of the bears, with only 19 stocks advancing versus 203 declining in the derivatives segment. However, a long build-up was observed in PNB Housing, Max Healthcare, Axis Bank, ICICI Bank, and Torrent Pharma, suggesting selective buying interest in these counters.

With geopolitical uncertainties and policy shifts weighing on sentiment, traders are likely to stay cautious heading into the next trading sessions.