Stock Market Today, April 07: Nifty 50 Maintains Position Above 22,100
Stock Market Today, April 07: The Sensex closed 2,227 points lower at 73,137, but the Nifty 50 was able to maintain its position above the 22,100 barrier.
At 22,162, the Nifty closed 743 points down. The market value of companies listed on the BSE decreased by ₹13 lakh crore. With losses ranging from 3% to 7%, all sectoral indices finished the day lower.
Due in large part to worries about possible US tariffs under Donald Trump’s planned policies, metal, car, and IT companies took the brunt of the sell-off. Real estate stocks had a sharp decline as well, finishing 6–8% lower.
The Nifty Midcap index fell 1,836 points to 48,809, while the Nifty Bank index fell 1,643 points to finish at 49,860. Half of the 50 Nifty equities fell more than 4%, and 49 of them ended the day down. With a 70% spike, India’s Volatility Index (India VIX) experienced its largest-ever one-day spike.
“During uncertain periods, even the stocks with strong earnings couldn’t stop falling. GDP (dross domestic product) growth, inflation, core sector growth, and high-frequency indicators (HFIs) suggest that markets may have bottomed out based on valuations, technicals, and fundamentals. However, given the uncertainty surrounding us, we should adopt a cautiously optimistic stance,” said Manish Jain, chief strategy officer and director, Mirae Asset Capital Markets.
However, investors, analysts said, should look for opportunities in this market meltdown and stay calm to ride the rough water.
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