Profit booking on weak global cues caused the Indian stock market to close in negative territory on Friday, March 28. Sentiment remained brittle due to US President Donald Trump’s trade measures.
The Nifty 50 ended the day 73 points, or 0.31 percent, lower at 23,519.35, while the Sensex ended the day 192 points, or 0.25 percent, lower at 77,414.92.
The BSE Midcap index slid 0.68 percent, while the Smallcap index dipped 0.35 percent, indicating that the mid- and small-cap indices did not perform well.
Due to the losses across segments, investors lost nearly ₹2 lakh crore in a day as the overall market capitalisation of BSE-listed firms dropped to nearly ₹413 lakh crore from about ₹415 lakh crore in the previous session.
Stock market today: 10 key highlights
Here are 10 key highlights of the Indian stock market today:
1. What weighed on the Indian stock market today?
As a result of profit booking and negative global cues, the Indian stock market fell. Trump’s harsh tariffs sparked fears of a more extensive and worldwide trade war, which resulted in large losses for major Asian and European indices.
The largest drags on the Sensex index were IT and auto giants, including as Infosys, Mahindra & Mahindra, TCS, HCL Tech, and Maruti.
“As the most recent US tariff measures are anticipated to have a substantial impact on key manufacturing economies, Asian markets are going through a new period of consolidation. The current weakening has also been exacerbated by an increase in Japan’s CPI, according to Vinod Nair, Head of Research at Geojit Investments Limited.
“The market’s upward momentum has stalled as investors evaluate the implications of these tariffs on the auto, ancillary, pharma and others sectors,” Nair said.
2. Top 3 Nifty 50 gainers today
Shares of Tata Consumer (up 2.91 per cent), Kotak Mahindra Bank (up 2.13 per cent) and Apollo Hospitals Enterprise (up 1.88 per cent) ended as the top three gainers.
3. Top 3 Nifty 50 losers today
31 stocks ended in the red in the index, out of which shares of IndusInd Bank (down 3.64 per cent), Wipro (down 3.56 per cent) and Shriram Finance (down 3.28 per cent) ended as the top losers in the index.
4. Sectoral indices today
Significant losses were incurred by Nifty Media (down 2.29 percent), IT (down 1.76 percent), Realty (down 1.42%), and Auto (down 1.03%).
While the Financial Services saw a 0.25 percent increase, Nifty Bank closed the day flat.
5. Most active stocks in terms of volume
The most active equities in terms of volume were Reliance Power (8.5 crore shares), YES Bank (9.81 crore shares), and Vodafone Idea (81.77 crore shares), per NSE data.
6. Over 60 stocks hit 52-week highs
In intraday trading on the BSE on Friday, 62 stocks, including SBI Cards and Payment Services, Navin Fluorine International, JK Cement, AAVAS Financiers, Chambal Fertilizers & Chemicals, and Shree Cement, reached their 52-week highs.
7. Over 400 stocks plumb 52-week lows
In intraday trade on the BSE, 428 stocks, including Happiest Minds Technologies, Sona BLW Precision Forgings, and Indian Overseas Bank, hit fresh 52-week lows.
8. Five stocks rose over 15% on NSE
The seven stocks that increased by more than 15% on the NSE were Sarthak Metals (up 20%), Generic Engineering Construction (up 19.97%), Dangee Dums (19.95%), Vaishali Pharma (19.92%), BSE (16.09%), Rajshree Polypack (15.82%), and DRC Systems India (15.45%).
9. Advance-decline ratio
Provisional data shows that on Friday, 1,099 stocks rose, 1,807 fell, and 70 stayed the same on the NSE.
10. Nifty 50 outlook
Investors are waiting for new catalysts for the next big move, while the upside is constrained by the uncertainty surrounding tariff negotiations, according to Ajit Mishra, SVP of Research at Religare Broking.
“While recommending a selective approach in other sectors, we continue to favor banking and financial stocks,” Mishra stated.
According to LKP Securities Senior Technical Analyst Rupak De, 23,400 could provide instant support. The Nifty may move towards 23,200, where important support is located, if it drops below 23,400.
“The Nifty could see more growth if it stays above 24,200. However, if the Nifty does not drop below 23,400, it may move up to 23,600 and beyond,” De said.
