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Date: 09-apr-2025 | By: Nuztrend Team
India's benchmark indices ended the April 9 trading session on a negative note as escalating global trade tensions and the RBI’s repo rate cut triggered caution among investors. The BSE Sensex fell by 379.93 points to close at 73,847.15, while the Nifty 50 dropped 136.70 points to end at 22,399.15.
The market opened lower and stayed weak throughout the day, reacting to heightened global recession fears following sweeping U.S. tariff hikes and India's own rate cut measures. The RBI lowered the repo rate by 25 basis points to 6%, adopting an accommodative stance to support economic growth.
Information technology and pharmaceutical stocks bore the brunt of the sell-off. Concerns over potential U.S. tariffs on pharmaceutical imports and weakness in global demand dragged down sector indices and heavyweight stocks.
The Nifty IT index lost over 2%, while the Nifty Pharma index fell sharply by 1.8% during the session.
The Indian Rupee weakened to 86.68 against the U.S. dollar, marking a three-week low amid a stronger dollar and global volatility. Meanwhile, bond yields eased slightly following the RBI's dovish policy outlook.
IT and pharma stocks dragged the markets down, with traders reacting sharply to global protectionist measures and weak earnings outlooks.
Traders and analysts remain cautious ahead of more earnings announcements and geopolitical developments. While the RBI's rate cut was expected, concerns over global tariffs and export-driven sectors are likely to keep markets volatile in the short term.
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