The global stock market has recorded huge selling in the global stock market due to the effective counter -duty duty charged by US President Donald Trump. The domestic stock market also declined today amid the possibility of a global recession arising out of this.
The NSE Nifty 50 index fell 0.6 per cent or 137 points to close at 22,399. The BSE Sensex fell 0.51 per cent or 380 points to close at 73,847. India Vicks rose 5 per cent to 21.43 due to considerable ups and downs in the market.
As far as the global stock markets are concerned, Japan’s Nikkei fell 4 per cent while the European index opened with 3 per cent decline. The declaration of cuts by the Reserve Bank of India for the second consecutive time in the repo rate did not stop in the market. The Reserve Bank has also changed its policy stance from neutral to generous.
The growth in shares of companies making everyday use items (FMCG) helped to stop to some extent. The Nifty FMCG index recorded a 1.8 percent increase. It was mainly strengthened by the great performance of Nestle India and Hindustan Unilever. Both these shares recorded an increase of about 3 percent.
But there was heavy selling pressure on the shares of export -focused areas. The Nifty IT index fell 2.2 per cent, Nifty Pharma fell by 1.9 per cent and the Nifty metal index slipped 1.6 per cent. Apart from FMCG, the Nifty Consumer Durables Index also closed with an edge.
Vinod Nair, head of research of Geojit Investments, said, “The IT sector is constantly weakened in the fear of weak results of the fourth quarter. Pharma is worrying about American duty. But the domestic markets like FMCG are performing well on the domestic market as they are largely safe from global challenges.
1,529 shares gained increase in the market, while 2,359 shares closed down. Major shares declining Sensex include State Bank of India, Tech Mahindra, Larsen & Toubro, Tata Steel, Sun Pharma, Infosys, HCL Tech, Axis Bank, Tata Consultancy Services and NTPC. Whereas the edge shares include Nestle, Hindustan Unilever, Titan, Power Grid, UltraTech Cement and ITC.
Extensive indices also recorded a decline. Nifty Midcap 100 fell 0.51 percent and Nifty Smallcap 100 declined by 0.86 percent.
First Published – April 9, 2025 | 11:11 pm IST
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