POST-MARKET SUMMARY 7th April 2025

On April 7, bears took control of Dalal Street as benchmark indices saw their biggest decline in 10 months, driven by fears of a trade war and recession from reciprocal tariffs. This was compounded by a sharp downturn in global markets, with major US markets entering correction territory due to escalating trade tensions.

 Sectorally, all indices ended in the red, with the Metal index plunging by 6.7%, the Realty index down by 5.6%, and sectors like PSU Bank, Energy, and IT losing between 2.5-4%.

NIFTY: The index opened 743 points lower at 21,758 and made a high of 22,254 before closing at 22,161. Nifty has formed a long bullish candle on the daily chart. Its immediate resistance level is now placed at 22,300 while its immediate support is at 22,000.

 BANK NIFTY: The index opened 2,171 points lower at 49,336 and closed at 49,860. Bank Nifty has formed a bullish candle with an upper shadow on the daily chart. Its immediate resistance level is now placed around 50,200 while immediate support is around 49,500.  

Stocks in Spotlight

 ▪  Mazagon Dock: Stock plunged over 8% following the government's announcement to sell up to 4.83% stake in the PSU defence firm.

 ▪  Trent: Stock fell sharply by about 14% after the promoter of the apparel chains announced a weaker-than-expected Q4FY25 business update, revealing that Q4FY25 revenue was lower than anticipated.

 ▪  BPCL: Stock closed 2% lower, but strongly recovered from the day's low, after Brent crude oil prices dropped nearly 4% to hover around $63 per barrel, its lowest level since April 2021

Global News

 ▪  Asian equity markets plunged on Monday, hitting multi-year lows, as concerns over a potential global recession intensified following the announcement of harsher-than-expected US tariffs by President Donald Trump.

 ▪  European markets are also experiencing their worst session since the outbreak of the COVID-19 pandemic in March 2020. The Euro STOXX 50 was down 5.27%, the broader STOXX 600 fell 5.15% and France's CAC 40 declined 3.78%.

 ▪  Global crude oil prices tumbled to multi-year lows. The decline was triggered by a combination of Saudi Arabia’s aggressive pricing strategy and fresh demand worries linked to Donald Trump’s tariff escalation.

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