Indian Markets Decline as IT Stocks See Heavy Selling

Indian equity markets closed in the red on April 3, 2025, as weakness in IT stocks weighed on benchmark indices. The Sensex declined 322.08 points (-0.42%) to 76,295.36, while the Nifty 50 slipped 0.35% to close at 23,250.10.

Despite the downturn in large-cap stocks, midcap and smallcap indices remained resilient, with the Nifty Midcap 150 rising 0.20% and the Nifty Smallcap 250 gaining 0.70%. Meanwhile, the India VIX declined 0.89% to 13.60, signaling reduced market volatility.

Sectoral Performance

📉 Worst-Performing Sector:

• Nifty IT 🔽 -4.21% (Dragged down by major tech stocks)

📈 Best-Performing Sector:

• Nifty Pharma 🔼 +2.25% (Driven by strong earnings outlook)

📊 Other Notable Sectoral Moves:

• Nifty Bank 🔼 +0.49%

• Nifty FMCG 🔼 +0.19%

• Nifty Financial Services 🔽 -0.10%

• Nifty Realty 🔽 -0.10%

Top Gainers & Losers

Top Gainers

🚀 VTL | ₹482.40 | +20.00%

Hit the upper circuit limit, supported by strong demand.

🚀 Tejas Networks | ₹873.10 | +8.73%

Shares surged on optimistic industry outlook and positive order flow.

🚀 Zee Entertainment (ZEEL) | ₹110.10 | +7.81%

Gained amid renewed interest in the media sector.

Top Losers

🔻 Infosys | ₹1,426.50 | -4.85%

Dragged lower by weak Q4 earnings guidance.

🔻 HCL Technologies | ₹1,472.10 | -4.53%

Fell as global IT spending outlook turned cautious.

🔻 TCS | ₹3,731.80 | -3.95%

Declined as investors booked profits post recent rally.

Market Highlights: Key Corporate Updates

📌 MOIL: Reported a 2.7% rise in manganese ore production, reaching 1.8 million metric tons (MMT) in FY25.

📌 Mahindra & Mahindra Financial Services: Loan disbursements for Q4 rose 1% to ₹15,480 crore, while full-year disbursements reached ₹57,850 crore (+3% YoY).

📌 Reliance Industries: Announced a ₹65,000 crore investment in 500 compressed biogas plants in Andhra Pradesh, further strengthening its renewable energy footprint.

📌 Central Bank of India: Reported strong growth, with gross advances up 16.2% to ₹2.9 lakh crore and total deposits rising 7.2% to ₹4 lakh crore.

📌 ESAF Small Finance Bank: Gross advances inched up 1% to ₹18,975 crore, while total deposits surged 17.2% to ₹23,277 crore in Q4.

📌 Hindustan Zinc: Silver production declined by 8%, but saleable metal production increased 2% to 10.52 MT, and mined metal output rose 1% to 10.95 MT. However, wind power generation fell 12%.

Global Economic Calendar (April 4-7, 2025)

United States

📊 Unemployment Rate & Non-Farm Payrolls (Mar) – April 5

📊 ISM Services PMI (Mar) – April 4

Europe

📊 Eurozone Retail Sales (Feb) – April 5

📊 Germany Industrial Production (Mar) – April 6

China

📊 Caixin Services PMI (Mar) – April 4

India

📊 RBI Monetary Policy Meeting – April 5

📊 Services PMI (Mar) – April 4

Market Outlook: Key Factors to Watch

• U.S. employment data and Federal Reserve commentary will set the tone for global markets.

• IT sector volatility remains a concern amid mixed earnings forecasts.

• Upcoming RBI policy meeting will be closely monitored for interest rate cues.

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