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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Evading BNSS notice can lead to arrest: Karnataka HC
Bengaluru: The Karnataka High Court has ruled that an accused can be arrested if they evade a notice issued under Section 35(3) of the Bharatiya Nagarik Suraksha Sanhita (BNSS) and fail to cooperate with the investigation, The New Indian Express reported.
In an order dated March 25, Justice M. Nagaprasanna dismissed a petition filed by Yugadev R, a resident of Cuddalore in Tamil Nadu. The petitioner had challenged the arrest order issued on January 19 by an additional chief judicial magistrate in connection with a criminal case registered by Adugodi police in Bengaluru.
The case involves alleged offences under Section 66C of the Information Technology Act 2000 and Section 318(4) of the Bharatiya Nyaya Sanhita, relating to identity theft and cheating.
According to the prosecution, the petitioner and his wife, who identified themselves as yoga teachers, started a company named Jai Bhairavi Devi Financial Solutions and collected investments through a website. Several complainants reportedly invested around Rs 39.20 lakh. Following complaints, a case was registered in December 2025 for criminal breach of trust and related offences.
The prosecution stated that the police made repeated attempts over a period of more than 40 days to serve notice on the accused under Section 35(3) of BNSS. However, he allegedly evaded service. He was eventually traced to Cuddalore, where he reportedly refused to cooperate with the investigation, leading to his arrest on January 17.
The petitioner argued that the arrest was illegal, claiming that the notice was not properly served in compliance with Supreme Court guidelines. However, the prosecution submitted call records and geo-location data to show repeated attempts to contact him.
After examining the submissions, the High Court held that Section 35(3) requires notices to be served in person and not through electronic means such as WhatsApp or other digital platforms. The court further observed that evasion of notice and failure to cooperate with the investigation justified the arrest.
