Weekly Market Wrap: A Sea of Red Amid Global Headwinds

7 Apr 2025 , 10:47 AM

Indian equities witnessed broad based declines responding to global macro, trade and weak investor sentiment NIFTY 50, the benchmark index, ended at 2.61% down with IT and Auto heavy-weights weighed the most on benchmark indices. While some cushion was provided by FMCG and select banking stocks, continued concerns surrounding US tariffs, as well as slowing global demand remained a overhang for market breadth. The volatility showed in midcaps and sectoral indices, with only a few stocks making gains as most dipped..

NIFTY 50

＄NIFTY 50: Broad Market Weakness as Tariff Tensions Mount

date	open	high	low	close
2025-03-28	23600.4	23649.2	23450.2	23519.3
2025-04-01	23341.1	23565.2	23136.4	23165.7
2025-04-02	23192.6	23350.0	23158.4	23332.3
2025-04-03	23150.3	23306.5	23145.8	23250.1
2025-04-04	23190.4	23214.7	22857.4	22904.4

Weekly Performance: -2.6%

The NIFTY 50 index fell 2.61% for the week, and most major sectors were weak. The gainers included Tata Consumer Products (+8.58%), IndusInd Bank (+4.95%), Trent (+4.46%), and Zomato (+4.38%). On the downside, the main drags were Hindalco (-12.09%), HCL Technologies (-10.7%), Tata Motors (-8.99%), Tata Steel (-8.98%) and TCS (-8.51%). There were 37 declines versus 13 advances in the index. The weakness in also evident in longer term weekly return metrics. In 4 of the past 12 weeks, NIFTY 50 was in the bottom decile of 3 year average weekly returns.

 

NIFTY MIDCAP SELECT

＄NIFTY MIDCAP SELECT Midcaps Under Pressure, Led by Tech Declines

date	open	high	low	close
2025-03-28	11619.0	11701.0	11470.2	11546.0
2025-04-01	11548.0	11628.6	11368.7	11383.9
2025-04-02	11418.7	11613.2	11355.1	11606.5
2025-04-03	11507.8	11613.6	11405.8	11514.1
2025-04-04	11499.4	11500.4	11130.4	11181.8

Weekly Performance: -3.2%

The NIFTY MIDCAP SELECT index declined 3.15% during the same period. Key gainers included Idea (+16.32%), Indus Towers (+7.84%), Marico (+3.94%), Max Healthcare (+3.71%), and Yes Bank (+1.84%). On the downside, Coforge (-18.51%) and Persistent Systems (-16.39%) led the losses, followed by Bharat Forge (-12.24%), Voltas (-11.01%), and Mphasis (-10.84%). Idea’s gain was driven by a relief given by the government to convert its spectrum dues into equity.  Overall, the index recorded more declines (17) than advances (8). Weekly analysis also showed 5 of the last 12 weeks in the bottom decile for weekly returns.

 

NIFTY IT

＄NIFTY IT A Lark Amid The US Tarriff Jolt

date	open	high	low	close
2025-03-28	37376.6	37540.8	36767.2	36886.1
2025-04-01	36422.9	36538.6	35890.4	35980.6
2025-04-02	36024.4	36368.9	35970.7	36283.5
2025-04-03	35676.4	35686.6	34642.4	34757.2
2025-04-04	34224.6	34361.6	33418.6	33511.4

 

Weekly Performance: -9.2%

The NIFTY IT index tumbled 9.15%, badly trailing the broader market. All 10 index members fell with the biggest losers being Coforge (-18.51%), Persistent Systems (-16.39%), Mphasis (-10.84%), HCL Technologies (-10.7%), and TCS (-8.51%). On April 3, the index saw a near 3% decline during the day after the US confirmed a 26% tariff on Indian imports. This action, combined with uncertainty around US IT spending, fueled concerns of slower deal closures and weaker topline growth. Of the last 12 weeks, 4 had weekly returns in the bottom decile, highlighting persistent weakness..

 

NIFTY AUTO

＄NIFTY AUTO: Sector Slides Amid Growth Concerns

date	open	high	low	close
2025-03-28	21570.2	21577.2	21200.8	21295.5
2025-04-01	21177.0	21543.8	21100.2	21235.2
2025-04-02	21250.8	21433.4	21175.8	21408.8
2025-04-03	21140.2	21320.3	21095.0	21164.0
2025-04-04	21081.1	21081.1	20507.6	20593.2

Weekly Performance: -3.3%

The NIFTY AUTO index dropped 3.3%, underperforming the NIFTY 50. Gainers like TVS Motor, Exide Industries, MRF, and Ashok Leyland saw modest upmoves. However, the broader sector saw 11 declines, led by Bharat Forge, Motherson Sumi Wiring, Tata Motors, Balkrishna Industries, and TI Industrial Systems, with losses ranging from -8% to -12%. Tariff concerns, input cost inflation, and fears of global slowdown weighed on sentiment.

 

NIFTY BANK

＄NIFTY BANK: Relatively Resilient With Mixed Performance

date	open	high	low	close
2025-03-28	51608.4	51839.1	51335.4	51564.9
2025-04-01	51178.1	51683.9	50742.0	50827.5
2025-04-02	50966.9	51404.2	50908.4	51348.1
2025-04-03	50910.0	51661.6	50906.6	51597.4
2025-04-04	51711.6	51893.6	51360.4	51502.7

Weekly Performance: -0.1%

The NIFTY BANK index slipped only a little, down 0.12%, offering better relative strength than the broad market. Gainers were led by IDFC FIRST Bank (+5.19%), IndusInd Bank (+4.95%), and AU Small Finance Bank (+3.27%), while Kotak Bank (-1.81%), Axis Bank (-0.97%), ICICI Bank (-0.97%) and HDFC Bank (-0.6%) lost marginally. The return was made up of 7 advances and 5 declines. Notably, NIFTY BANK is up 1% YTD while NIFTY is down 3.5% YTD.

 

NIFTY ENERGY

＄NIFTY ENERGY: Mixed Momentum With Renewables in Focus

date	open	high	low	close
2025-03-28	33771.4	34075.0	33481.4	33571.6
2025-04-01	33381.2	33790.4	33190.6	33289.1
2025-04-02	33321.8	33503.9	32924.6	33463.7
2025-04-03	33151.9	33596.6	33143.1	33559.8
2025-04-04	33502.2	33514.4	32109.7	32308.9

Weekly Performance: -3.8%

The NIFTY ENERGY index declined 3.76%, though it outperformed the NIFTY 50. Gain leaders included Adani Power (+4.57%) and JP Power (+3.79%), benefiting from renewable energy tailwinds. In contrast, CG Power, ONGC, ABB, and Triveni Engineering fell between -8.02% to -10.02%. The index saw 9 advances against 31 declines, with global economic jitters and company-specific factors driving divergent moves.

 

NIFTY FMCG

＄NIFTY FMCG: Outperformance Led by Defensive Buying

date	open	high	low	close
2025-03-28	53198.8	54150.9	53198.8	53589.8
2025-04-01	53615.1	54029.9	52982.8	53101.8
2025-04-02	53286.6	53738.4	52851.5	53702.6
2025-04-03	53330.2	53861.8	53283.4	53806.8
2025-04-04	53603.7	54223.4	53310.0	53830.7

Weekly Performance: 0.4%

The NIFTY FMCG index gained 0.45%, going against the tide of broader market weakness. At the top of the pack was Tata Consumer (+8.58%), which received a Buy rating from Goldman Sachs and lifted earnings expectations. Other Gainers were Marico (+3.94%) & Patanjali (+2.32%). Among the losers were Dabur (-8.84%) and Radico (-3.64%). Dabur crashed after its March quarter update indicated disappointing margins and growth. Inflationary pressures were more than anticipated. Overall, the index saw 8 advances vs. 7 declines.

 

NIFTY PHARMA

＄NIFTY PHARMA: Weak Global Cues Trigger Sector Selloff

date	open	high	low	close
2025-03-28	21277.3	21313.3	20999.9	21137.4
2025-04-01	21085.5	21218.4	20704.7	20771.8
2025-04-02	20771.1	20983.9	20615.3	20952.8
2025-04-03	21571.8	21996.6	21372.4	21423.6
2025-04-04	21430.9	21431.2	20089.4	20560.0

Weekly Performance: -2.7%

The NIFTY PHARMA index was down 2.73%, almost inline with the broader NIFTY 50. Torrent Pharmaceuticals (+1.81%) and Mankind Pharma (+1.09%) gained.  On the other hand, Gland Pharma (-7.38%), Ipcalab (-6.83%) and Granules India (-6.09%) were the biggest losers. Selling pressure was due to worries about US tariffs on pharma imports, disruptions in supply chains, and weak global cues..

 

NIFTY REALTY

＄NIFTY REALTY: Profit-Taking Drags Realty Stocks

date	open	high	low	close
2025-03-28	866.3	868.8	848.5	851.3
2025-04-01	852.2	853.2	820.0	824.8
2025-04-02	825.8	855.8	825.8	854.7
2025-04-03	842.1	858.5	840.6	853.8
2025-04-04	851.3	853.2	814.5	823.0

Weekly Performance: -3.3%

The NIFTY REALTY index fell 3.32%, marginally less than NIFTY 50. Among the worst performers were Anant Raj (-7.14%), Oberoi Realty (-5.3%), Prestige Estates (-4.84%) and DLF (-3.9%). On the other hand, Raymond gained 5.82%.