After opening the day on a lower note, the Indian benchmark continued its downward journey and ended the day lower.

Benchmark Indian equity indices settled lower on Thursday following US President Donald Trump's announcement of reciprocatory tariffs on several countries.

At the closing bell, the BSE Sensex  closed lower by 322 points ( down 0.4%)

Meanwhile, the NSE Nifty closed points 82 lower ( down 0.3%)

Power Grid Corp, Sun Pharma, and Asian Paints are among the top gainers today

Kotak Mahindra, HDFC Bank, and Tata Motors, on the hand, were among the top losers today.

The GIFT Nifty was trading at  23,30,9, lower by 122 points at the time of writing.

The BSE MidCap index ended 0.3% higher, and the BSE SmallCap index ended 0.8 % higher.

Sectoral indices were trading mixed today, with stocks in the healthcare sector and power sector witnessing buying. Meanwhile, stocks in the media sector and IT sector witnessed selling pressure.

The rupee is trading at Rs 85.4 against the US$.

Gold prices for the latest contract on MCX are trading 0.2% lower at Rs 90,650 per 10 grams.

Meanwhile, silver prices were trading 3.4% lower at Rs 96,361 per 1 kg.
 

Dabur Shares Plummet on Weak Results

In the news from the FMCG sector, Dabur India's shares fell over 7% on Thursday, the biggest drop in six months, as the company's sales volume remained flat in the last quarter of the previous financial year.

Dabur's shares have been falling for four days straight, losing over 10% in value. This year, the stock has dropped 8%. The company's total market value is currently Rs 825.6 billion (bn).

India's FMCG business is expected to decline by around 5% due to shorter winters and slower sales in cities. As a result, Dabur's revenue growth is likely to be slow in the fourth quarter.

The company expects its profit margin to decrease by 1.5 to 1.8% in the fourth quarter compared to last year. This is because of rising costs due to inflation and lower sales. Despite these challenges, the company remains focused on achieving profitable growth.

Moreover, Dabur is hopeful that the incentives announced in the Union budget will boost consumer spending and help the FMCG sector recover.

The company's profit increased by 1.9% to Rs 51.6 bn in the third quarter. This growth was compared to the previous year's third quarter, when the company's profit was Rs 50.6 bn and revenue was Rs 325.5 bn.

IDBI Bank Shares Rise

Moving on to the news from banking sector, IDBI First Bank and Poonawalla Fincorp's shar price went up on 3 April 2025, even though the overall market was down. This happened after the two companies shared positive news about how well they did in the last quarter of the financial year.

IDBI First Bank's shares jumped nearly 6% to Rs 60.4, its highest level in over a month. The bank's total business, including loans and customer deposits, reached Rs 484 bn as of 31 March 2025. This is a 23% increase from the previous year's Rs 395 bn.

In its exchange filing, IDBI First Bank said it has been reducing its credit-deposit ratio since the 2018 merger. The bank's incremental credit-deposit ratio for the last 12 months is 75.7%, indicating a more balanced growth.

Poonawalla Fincorp's shares rose over 4% to Rs 362.4, the highest level this year. In an exchange filing, the company reported that its assets under management grew 42% to Rs 355.5 billion as of 31 March 2025.

It also stated that the company remains committed to managing risks carefully and maintaining a diverse asset base.
 

Trump's Tariffs Hit Indian Chemical Stocks

Moving on to the news from chemical sector, Indian chemical companies share price fell on Thursday. Thia happened after the United States announced new tariffs on several countries, including India.

The new US tariffs will likely affect India's exports to the US, potentially leading to a decline in sales and revenue. This has raised concerns about company's profits, as they may struggle to maintain their margins in the face of higher tariffs.

The US has increased 27% reciprocal tariff in India, then the current 3.5% import duty on chemical firms. This sudden and significant increase led to a sharp drop in the stock market.

Chemical company stocks like Navin Fluorine, SRF and other company fell sharply. Navin Fluorine's share price dropped sharply, falling 6.9% to a low of Rs 3,955. SRF's share price also declined, initially falling 5.9% to Rs 2,803.8.

PI Industries dropped 2.5%, while Gujarat Fluorochemicals fell 2.2%. Deepak Nitrite's share price was down 1.2% to Rs 2,008. Tata Chemicals' share price also fell, but only slightly, down 0.6% to Rs 846.7.

The US has imposed high tariffs on chemical exports from countries like China (34%), the EU (20%), Japan (24%), and South Korea (25%). This puts India in a relatively better position to compete with these countries in the global chemical export market.

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