POST-MARKET SUMMARY 3rd April 2025

On April 3, the benchmark indices experienced a volatile session, closing in the red as global market weakness intensified following higher-than-expected tariffs announced by US President Donald Trump. This sparked a selloff in the IT sector, while pharma stocks defied the trend with gains.

Sector-wise, the IT index saw a sharp decline of 4%, and the Auto index slipped by 1%. In contrast, the Pharma index rose by 2%, the PSU Bank index gained 1.9%, and the Power index surged by 1.8%.

NIFTY:  The index opened 182 points lower at 23,150 and made a high of 23,306 before closing at 23,250. Nifty has formed a bullish candle with a minor upper shadow on the daily chart. Its immediate resistance level is now placed at 23,350 while its immediate support is at 23,150. 

BANK NIFTY: The index opened 438 points lower at 50,910 and closed at 51,597. Bank Nifty has formed a long bullish candle on the daily chart. Its immediate resistance level is now placed around 52,000 while immediate support is around 51,200.  

Stocks in Spotlight

▪   Tejas Networks: Stock surged by 9% following reports of BSNL's Rs 61,000 crore 5G expansion plan. Tejas Networks, a key supplier of 4G/5G RAN equipment and routers, is expected to benefit from the telco's 5G network expansion.

▪   Poonawalla Fincorp: Stock jumped over 4% after the company reported a 42% YoY growth in its Assets under Management (AUM) for the March quarter.

▪   IDFC First Bank: Stock climbed over 5% after the bank reported a 23% jump in its total business deposits to Rs 4.84 lakh crore, while loans and advances grew 20% YoY to Rs 2.41 lakh crore in the March quarter.

 Global News

 ▪   Asia-Pacific markets plunged on Thursday following U.S. President Donald Trump’s imposition of hefty reciprocal tariffs on over 180 countries and territories, many of which are in the region.

▪   European shares slumped to a two-month low on Thursday, with bank stocks suffering the most amid fears that the escalating trade conflict would slow economic growth.

▪   Oil prices declined on Thursday after OPEC+ decided to accelerate the unwinding of oil output cuts in May, exacerbating losses from President Trump’s recent trade measures. Brent futures were down $4.93, or 6.58%, at $70.02 a barrel by 1305 GMT.

▪   Gold fell over 3%, falling below $3,060 per ounce on Thursday, after briefly hitting a record high above $3,160, following news of exemptions for precious metals and other metals.

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