Sensex falls 191 pts as Trump tariffs sink global equities; closes FY25 with 5 pc annual return
Mumbai, Mar 28 (PTI): Stock markets closed on a bearish note on the last trading session of the 2024-25 fiscal on Friday, with benchmark Sensex falling by 191 points following weak global trends amid uncertainties over Trump tariffs.
The 30-share BSE benchmark Sensex declined 191.51 points or 0.25 per cent to settle at 77,414.92 in a volatile trading session. During the day, it slumped 420.81 points or 0.54 per cent to 77,185.62.
The NSE Nifty dropped 72.60 points or 0.31 per cent to 23,519.35.
In the 2024-25 financial year, the Sensex jumped 3,763.57 points or 5.10 per cent, and the Nifty climbed 1,192.45 points or 5.34 per cent.
From the Sensex pack, IndusInd Bank dropped over 3.50 per cent, followed by Mahindra & Mahindra, which declined more than 2 per cent. HCL Tech, Maruti, Infosys, Zomato, Power Grid, Adani Ports, Tata Consultancy Services and UltraTech Cement were also among the laggards.
Kotak Mahindra Bank, Hindustan Unilever, ICICI Bank, Tata Motors, Nestle and Bharti Airtel were among the gainers.
Among Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled with deep cuts. European markets were quoting in the negative territory. US markets ended lower on Thursday.
"Asian markets are experiencing a new phase of consolidation as the latest US tariff measures are expected to have a significant impact on major manufacturing economies. Additionally, a rise in Japan's CPI has contributed to the prevailing weakness.
"Domestically, the market’s upward momentum has stalled as investors evaluate the implications of these tariffs on the auto, ancillary, pharma and others sectors," Vinod Nair, Head of Research, Geojit Investments Limited, said.
"Markets remained range-bound for yet another session, shedding nearly half a per cent as the consolidation phase continued. Investors are awaiting fresh triggers for the next decisive move, while uncertainty surrounding tariff talks is limiting the upside," Ajit Mishra – SVP, Research, Religare Broking Ltd, said.
The BSE midcap gauge declined 0.68 per cent and the smallcap index dipped 0.35 per cent.
Among BSE sectoral indices, BSE Focused IT dropped the most by 1.87 per cent, followed by IT (1.77 per cent), realty (1.44 per cent), teck (1.39 per cent), utilities (1.08 per cent) and auto (1.07 per cent).
Bankex and oil & gas were the gainers.
On the weekly front, the BSE benchmark gauge climbed 509.41 points or 0.66 per cent, and the Nifty went up by 168.95 points or 0.72 per cent.
As many as 2,499 stocks declined while 1,497 advanced and 123 remained unchanged on the BSE.
Stock markets would remain closed on Monday for Eid-Ul-Fitr.
Foreign Institutional Investors (FIIs) bought equities worth Rs 11,111.25 crore on Thursday, according to exchange data.
Global oil benchmark Brent crude climbed 0.18 per cent to USD 74.16 a barrel.
The BSE benchmark gauge climbed 317.93 points or 0.41 per cent to settle at 77,606.43 on Thursday. The Nifty rallied 105.10 points or 0.45 per cent to 23,591.95.
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Prasidh, Kuldeep limit South Africa to 270 after De Kock's hundred
Visakhapatnam (PTI): India fought back gallantly through Prasidh Krishna and Kuldeep Yadav after Quinton de Kock struck his 23rd hundred, keeping South Africa to a manageable 270 in the third and series-deciding final ODI, here Saturday.
India won the toss after judging the spin of the coin incorrectly 20 times in a row. They had little hesitation in inserting the Proteas into bat, a clear indication of dew factor dominating the thought.
After Arshdeep Singh sent back Ryan Rickelton early, De Kock (106, 89b, 8x4, 6x4) struck his seventh century against India and put on 113 runs off 124 balls with skipper Temba Bavuma (48, 67b) as the visitors moved to a healthy position.
De Kock was severe on Prasidh (4/66), who erred on length continuously in his first spell (2-0-27-0). The left-hander biffed the pacer for 6, 6, 4 in his second over to milk 18 runs.
The 32-year-old quickly pounced on anything that was short, and pacers Prasidh and Harshit offered him plenty of feed on his pet areas.
Bavuma was more sedate, and made runs through those typical dabs and jabs, occasionally unfurling a drive of elan.
De Kock moved to fifty in 42 balls, and never let the tempo down reaching his hundred in 79 balls.
India found temporary relief when Ravindra Jadeja induced a false slash from Bavuma to get caught by Virat Kohli at point.
The tourists got another move on through a 54-run partnership between De Kock and Matthew Breetzkle for the third wicket, and at 168 for two in 28 overs they were in a good position to press on.
But Breetzke's punishment of part-time spinner Tilak Varma forced a rethink in the Indian camp, as skipper KL Rahul brought back Prasidh for a second spell.
What a masterstroke it turned out to be! The Karnataka man broke the back of South Africa’s top and middle order in an exceptional second spell (4-0-11-3).
Breetzke was the first man to go, trapped plumb in front with a straight one and four balls later Aiden Markram uppishly chipped a fuller delivery to Kohli at short covers.
Prasidh soon castled De Kock, whose ugly cross-batted swipe failed to connect a full length delivery from the pacer.
All of a sudden, SA found themselves at a shaky 199 for five, losing three wickets in the space of three overs.
Once Prasidh was done away with the top and middle-order, left-arm wrist spinner Kuldeep (4/41) took over and mopped up the tail as SA fell short of even a par total on this track.
