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Indian stock markets opened on a weak note on Friday, March 7, 2025, as global markets remained under pressure
Stock Market Updates
Sensex Today: After opening on a weak note, Indian stock markets managed to move into positive territory on Friday, March 7, 2025. While the domestic indices showed signs of recovery, global markets continued to grapple with concerns over the impact of US President Donald Trump’s tariffs on the US economy. Despite his decision to delay tariffs on certain goods from Canada and Mexico, which fall under the United States-Mexico-Canada Agreement, until April 2, investor sentiment remained tense.
The BSE Sensex recovered from its lows and was trading at 74,436.58, up 96 points or 0.13%, while the Nifty50 stood at 22,590, gaining 46 points or 0.2%. In the broader markets, the Nifty MidCap index rose by 0.4%, and the Nifty SmallCap index gained 1.05%.
Technical charts suggest that the Nifty index could face resistance around the 22,700 level, which corresponds to the 20-day exponential moving average (DEMA), while the 22,250-22,400 range is expected to provide support if the market sees further dips.
Sector-wise, the Nifty IT index was the biggest laggard, slipping by 0.8%, followed by a 0.32% decline in the Nifty FMCG index. On the positive side, the Nifty Metal index rose by 0.64%.
Among the top gainers on the Sensex and Nifty today were Bharat Electronics, HDFC Life, SBI Life, Hero MotoCorp, Bajaj Auto, Adani Ports, Reliance Industries, Tata Motors, Tata Steel, Grasim, Hindalco, Bajaj Finserv, Ultratech Cement, and Nestle India. These stocks saw gains of up to 2% on the benchmark indices. On the flip side, Infosys, Shriram Finance, HCL Tech, NTPC, ICICI Bank, Tech Mahindra, BPCL, Cipla, and Wipro were the top losers, with declines of up to 1.3%.
Global Cues
Meanwhile, global markets experienced significant losses. In Asia, Japan’s Nikkei declined by 1.5%, Australia’s ASX200 shed 1.4%, Hong Kong’s Hang Seng dropped 0.7%, South Korea’s Kospi slipped by 0.35%, and China’s Shanghai Composite was down 0.22%. Overnight, US markets also closed in the red, with the Nasdaq Composite plunging by 2.61%, entering ‘correction’ territory, while the Dow Jones Industrial Average fell 0.99%, and the S&P 500 ended 1.78% lower.
Looking ahead, investors will be closely watching economic data releases, including China’s combined trade data for January and February, the Eurozone’s Q4-CY24 GDP data, and US jobless claims and non-farm payroll data. These indicators are expected to provide further insights into global economic conditions, which could influence market sentiment in the coming days.
