Stock Market Today: Sensex Settles 191 Points Lower; Nifty At 23,519
Indian benchmark indices Nifty and Sensex ended lower on March 28, finishing FY25 on a subdued note, as IT and auto stocks continued their decline for the second consecutive session, fueled by concerns over potential tariffs from former President Trump. While FMCG stocks showed strong performance, the broader market struggled to gain traction. At the close, the Sensex fell by 191.51 points, or 0.25 per cent, ending at 77,414.92, while the Nifty dropped by 72.60 points, or 0.31 per cent, to settle at 23,519.35. A total of 1,454 shares advanced, 2,399 shares declined, and 116 remained unchanged. Broader Market Update The broader market saw a decline in today’s session, with the Nifty Midcap 100 and Smallcap 100 indices dropping by 0.3 per cent and 0.15 per cent, respectively. Despite the significant correction since September, analysts continue to express caution due to high valuations, warning that further downside risks remain. Sectorial Update Among sectors, Nifty FMCG was the only one to close in the green on March 28, rising by 0.6 per cent. Meanwhile, Nifty Bank and PSU Bank initially showed gains but pared them before the close, finishing lower by up to 0.5 per cent. Weakness persisted in Nifty IT, Auto, and Pharma, with all three sectors falling by around 1 per cent. Investor sentiment remained fragile, with growing concerns over Trump's proposed reciprocal tariffs, keeping markets on edge. Also Read: Gold Rate Today (March 28): Check Out Gold Prices In Delhi, Mumbai, Bengaluru, Ahmedabad, More Cities Expert Comment Bajaj Broking Research, said, "Benchmark indices traded with a corrective bias, ending the last trading day of the financial year marginally lower. Nifty started positively and tested the previous session's high but faced profit booking at higher levels, closing at 23,519.35, down 72 points or 0.31%. IT, Media, and Auto stocks continued their decline for the second consecutive session, impacted by concerns over Trump's tariffs, despite a strong performance from FMCG stocks. The broader market also slipped, with the Nifty Midcap 100 and Smallcap 100 indices down 0.32 per cent and 0.15 per cent, respectively. "Index has formed a bear candle with an almost identical high as that of previous session signaling profit booking around 23,650 levels. Going ahead, we expect the index to extend the last 4 sessions consolidation in the range of 23,850-23,200 thus working off the overbought condition developed in the daily stochastic after the recent sharp rally. Immediate support is placed near last week low of 23,400, while key short-term support is placed at 23,200-23,000 levels being the confluence of 50 days EMA and recent breakout area. Overall trends remain positive, we believe the current breather should be used as a buying opportunity in quality stocks in staggered manner for up move towards 24,200 levels in the coming weeks," it added.
Indian benchmark indices Nifty and Sensex ended lower on March 28, finishing FY25 on a subdued note, as IT and auto stocks continued their decline for the second consecutive session, fueled by concerns over potential tariffs from former President Trump. While FMCG stocks showed strong performance, the broader market struggled to gain traction.
At the close, the Sensex fell by 191.51 points, or 0.25 per cent, ending at 77,414.92, while the Nifty dropped by 72.60 points, or 0.31 per cent, to settle at 23,519.35. A total of 1,454 shares advanced, 2,399 shares declined, and 116 remained unchanged.
Broader Market Update
The broader market saw a decline in today’s session, with the Nifty Midcap 100 and Smallcap 100 indices dropping by 0.3 per cent and 0.15 per cent, respectively. Despite the significant correction since September, analysts continue to express caution due to high valuations, warning that further downside risks remain.
Sectorial Update
Among sectors, Nifty FMCG was the only one to close in the green on March 28, rising by 0.6 per cent. Meanwhile, Nifty Bank and PSU Bank initially showed gains but pared them before the close, finishing lower by up to 0.5 per cent. Weakness persisted in Nifty IT, Auto, and Pharma, with all three sectors falling by around 1 per cent. Investor sentiment remained fragile, with growing concerns over Trump's proposed reciprocal tariffs, keeping markets on edge.
Expert Comment
Bajaj Broking Research, said, "Benchmark indices traded with a corrective bias, ending the last trading day of the financial year marginally lower. Nifty started positively and tested the previous session's high but faced profit booking at higher levels, closing at 23,519.35, down 72 points or 0.31%. IT, Media, and Auto stocks continued their decline for the second consecutive session, impacted by concerns over Trump's tariffs, despite a strong performance from FMCG stocks. The broader market also slipped, with the Nifty Midcap 100 and Smallcap 100 indices down 0.32 per cent and 0.15 per cent, respectively.
"Index has formed a bear candle with an almost identical high as that of previous session signaling profit booking around 23,650 levels. Going ahead, we expect the index to extend the last 4 sessions consolidation in the range of 23,850-23,200 thus working off the overbought condition developed in the daily stochastic after the recent sharp rally. Immediate support is placed near last week low of 23,400, while key short-term support is placed at 23,200-23,000 levels being the confluence of 50 days EMA and recent breakout area. Overall trends remain positive, we believe the current breather should be used as a buying opportunity in quality stocks in staggered manner for up move towards 24,200 levels in the coming weeks," it added.
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