Indian benchmark equity indices closed higher on Thursday to log their best week in more than four years and erase all their year-to-date losses, led by a rally in heavyweight financial stocks.
Stocks including TCS, Tata Steel, GAIL (India), Infosys, BHEL, Sun Pharma, NBCC (India), Bharti Hexacom, Eternal, Aurobindo Pharma and TARC will be in the spotlight on Friday, April 10.
Aurobindo Pharma and Gland Pharma have fallen 9 per cent each in the past one week and 22-23 per cent in 2025 so far. Glenmark Pharma is down 9 per cent for the one month period and 14 per cent year-to-date.
RBI Governor Sanjay Malhotra acknowledged that US tariff measures have increased uncertainties, making it difficult to assess the impact on economic growth. While growth is improving, it remains below desired levels. The MPC has revised the FY26 GDP growth forecast downward by 20 basis points to 6.5%, citing headwinds from global trade and inflation.
Global stock markets plunged after President Trump announced a 10% blanket tariff on all U.S. trading partners, with higher rates for surplus countries like India at 26%. This triggered fears of a trade war and recession, impacting the Indian Sensex and Nifty50, and hitting sectors like metals, pharma, and IT hard.
Stock Market Crash Today: Indian stock markets experienced a sharp drop as renewed recession fears and President Trump's new tariff announcements sparked a global selloff. The Sensex fell 836 points, with broad-based selling pulling down sectoral indices including metal, pharma, and IT. Investor sentiment was affected by potential tariffs targeting the pharma sector and heightened global uncertainty.