After opening on a lower note, Indian benchmark indices continued their downfall throughout the session, ending the day negative.

The BSE and the NSE benchmark indices witnessed aggressive selling pressure in intra-day deals on Friday as tensions between India and Pakistan escalated following the Pahalgam terror attack.

At the closing bell, the BSE Sensex  closed lower by 589 points (down 0.7%)

Meanwhile, the NSE Nifty closed points 207 lower (down 0.8%)

TCS, Infosys, Tech Mahindra among the top gainers today

Adani Ports, Bajaj Finserv, and Power Grid Corp, on the other hand, were among the top losers today.

The GIFT Nifty was trading at  24,117, lower by 273 points at the time of writing.

The BSE MidCap index ended 2.4% lower, and the BSE SmallCap index ended 2.5% lower.

Barring the IT sector, all other Sectoral indices were trading negatively today, with stocks in the realty sector and the power sector witnessing selling pressure.

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

Gold prices for the latest contract on MCX are trading 0.8% lower at Rs 95,084 per 10 grams.

Meanwhile, silver prices were trading 0.2% lower at Rs 97,356 per 1 kg.

Here are four reasons why Indian Markets are falling today.

#1 Pahalgam terror attack weighs on sentiment

The Pahalgam terror attack has increased tension between India and Pakistan, affecting the market sentiments. There is uncertainty about how the situation will be unfold. While the situation is concerning, many believe that any conflict will likely be contained and would not impact the overall market.

#2 Profit booking after recent rally

The Indian market is seeing profit booking after a recent 8% rise, due to lack of new triggers and uncertainty over US trade policies. Investors are booking profits after 7 day winning streak, leading to a market correction.

#3 Global uncertainty dents India's growth outlook

India's economy remains strong, but global trade war could impact growth. The world bank and IMF have lowered India's growth forecasts to 6.3% and 6.2% respectively for FY26.

#4 Mixed Q4 earnings fail to boost market sentiment

Indian companies Q4 earnings have been mixed, with cautious management comments due to global uncertainties. While the banking sector performed well, Q4 results met expectations but raised concerns for Q1FY26. This impacted the domestic markets recent gains.
 

Muthoot Finance shares take a hit

In the news from the financial services sector, shares of the Muthoot finance slips 3.4% Rs 2,076.9. The reason behind the drop was of its ex-dividend date. New buyers would not get the upcoming dividend only the existing shareholders stock before the date will receive it.

In past one year, Muthoot Finance has gained 30%.

The company's board has approved an interim dividend of Rs 26 per share for the financial year 2024-2025.

The record date and ex-dividend date are set as 25 April 2025.

Muthoot Finance is a gold loan company that provides loan against gold jewellery and ornaments. They also offer other services like money transfer. Foreign exchange, insurance and microfinance to help people financially.

RIL shares dip ahead of results

Moving on to the news from energy sector, shares of Reliance Industries dropped 1 % to Rs 1,288.1 on Friday ahead of the company's quarterly results announcement for Q4FY25.

Reliance Industries Q4FY25 earnings are expected to be muted. While their telecom and retail business are likely growing steadily, drop in the oil and chemical segments may reduce these gains.

The company's operating profit expected to rise 3.5% year-on-year (YoY), driven by benefits from the telecom tariff hikes and a recovering retail business, with minimal change from the previous quarter.

Reliance Industries retail earnings may slightly drop due to seasonal trends. Net profit might fall 5% YoY due to higher depreciation and interest rates.

The company's share price has dropped about 20% from its 52-week high of Rs 1,608.8. The company's market value is Rs 17.5 bn. The stock has surged around 7.5% this year.

Reliance Industries is an Indian company founded in 1958 by Dhirubhai Ambani. It operates in various sectors including energy, retail, telecom, and media with subsidiaries like Reliance Retail and Reliance Jio Infocom and Reliance Petroleum.
 

Swiggy's stock plummets to near record low

Moving on to the news from retailing sector, shares of food and grocery delivery platform company Swiggy dropped 6% on Friday due to high trading volume.

Swiggy's share price has dropped 48% from its peak of Rs 617 reached on December 2024. After listing in November 2024, the share now trades 17% lower than its issue price of Rs 390.

The company share has performed poorly due to concerns over increasing losses in its quick commerce business and slowing margins in food delivery. Foreign investors also have reduced their stake in the company to 4.9% from 6.18% in the last quarter.

Some Swiggy investors have significantly unrealized profits, despite the stock trading below its IPO price.

Swiggy stock fell 5% to Rs 323.5.

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