Terrible Tuesday: Sensex Ends 1,391 Points Lower, Nifty Below 23,200; HCL Tech Drops 4%
Key benchmark equity indices BSE Sensex and Nifty50 were lower at open on Tuesday; Key points for investors
Sensex Today: Benchmark Indian equity indices tumbled over 1% on the first trading session of the financial year 2025-26 (FY26) as investor sentiment weakened over concerns regarding US President Donald Trump’s reciprocal tariff announcement.
The 30-share BSE Sensex nosedived 1,390.41 points, or 1.80%, to close at 76,024.51. The index fluctuated between an intra-day high of 77,487.05 and a low of 75,912.18.
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Similarly, the Nifty50 dropped 353.65 points, or 1.50%, to settle at 23,165.70. It recorded a high of 23,565.15 and a low of 23,136.40 during the session.
Market Movers & Sectoral Performance
Among Sensex constituents, only Zomato, IndusInd Bank, and State Bank of India ended in the green, while the rest saw declines. Major drags included HCL Tech, Bajaj Finserv, HDFC Bank, Bajaj Finance, and Infosys, with losses extending up to 3.66%.
In the broader market, the Nifty Midcap100 and Nifty Smallcap100 indices closed lower by 0.86% and 0.70%, respectively.
On the sectoral front, most indices ended in the red, except for Nifty Media and Oil & Gas. The worst-hit sectors included IT, financial services, banking, realty, and consumer durables, with losses extending up to 3.11%.
Market Volatility on the Rise
Notably, the India VIX, which measures market volatility, surged 8.37% to close at 1GST Collections for March at Rs 1.96 lakh crores
Market View | Dr. VK Vijayakumar, chief investment strategist, Geojit Investments Limited
Globally markets are focused on the details of Trump’s reciprocal tariffs to be announced tomorrow. The market trends after the announcements will depend on the details of the tariffs and how they will impact different countries and sectors.
India outperformed most markets in March with a 6.3 per cent return. FIIs turning buyers and the consequent short covering contributed to the rally. Can the rally continue, or will there be another downturn? This will depend mainly on what Trump announces in tariffs. If the tariffs are lower than feared, there can be a rally in the market, which will be led by externally linked sectors like pharmaceuticals and IT. On the other hand, if the tariffs are severe, there can be another round of downturn in the market. Investors can wait and watch, and respond after the details are known.
Global Cues
Australian shares gained almost 1% on Tuesday, driven by solid performances from major banks and miners, as traders anxiously awaited the central bank’s expected decision to keep interest rates unchanged later in the day. As of 2332 GMT, the S&P/ASX 200 index had risen by 0.8% to 7,904.7 points, recovering from a 1.7% decline in the previous session.
As of 10:12 a.m. Tokyo time, S&P 500 futures were down by 0.5%, while Japan’s Topix saw a rise of 0.7%. In Australia, the S&P/ASX 200 gained 0.4%, and Euro Stoxx 50 futures were up by 0.2%.
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