Sensex drops nearly 400 points; mid, small-caps underperform— 10 key highlights of Indian stock market today

The Indian stock market fell on Wednesday, April 9, tracking weakness in major global peers as fears of a trade war unleashed by US President Donald Trump's tariff policies continued to weigh on market sentiment.

Prevailing uncertainty over the direction of trade war and its impact on global economic growth has triggered massive losses in markets across the globe.

On April 9, Japan's Nikkei crashed over 4 per cent while major European indices - FTSE, CAC and DAX- were down 3 per cent each when the Sensex closed.

The Sensex ended with a loss of 380 points, or 0.51 per cent, at 73,847.15, while the Nifty 50 suffered a loss of 137 points, or 0.61 per cent, to end at 22,399.15.

Mid and small-cap segments underperformed, marking deeper losses. The BSE Midcap and Smallcap indices closed 0.73 per cent and 1.08 per cent lower, respectively.

Investors lost about ₹3 lakh crore in a session as the overall market capitalisation of firms listed on BSE dropped to nearly ₹394 lakh crore from nearly ₹397 lakh crore in the previous session.

Stock market today: 10 key highlights

Here are 10 key highlights of the Indian share market today:

1. Why did the Indian stock market fall today?

Concerns over a trade war are not fading away. Trump is not backing away from his tariff plans. In fact, he is going aggressive with them. On April 8, he announced that the country would soon announce a “major” tariff on pharmaceutical imports.

Experts say the Indian economy may be relatively less affected by the tariff war, but it cannot completely distance itself from global turmoil.

Domestic brokerage Kotak Institutional Equities (Kotak Securities) has trimmed India's FY26 GDP growth estimate to 6 per cent from 6.5 per cent earlier due to a global demand slowdown caused by the tariff war.

The Reserve Bank of India (RBI) has also cut India's GDP growth projections for FY26 to 6.5 per cent from 6.7 per cent earlier.

The domestic market has not been able to fully discount the impact of a trade war and global economic slowdown, which keeps it volatile.

2. Top Nifty 50 losers today

As many as 32 stocks ended in the red in the Nifty index. Shares of Wipro (down 4.23 per cent), SBI (down 3.40 per cent) and Tech Mahindra (down 3.31 per cent) were the top losers in the index.

3. Top Nifty 50 gainers today

Shares of Nestle India (up 3.28 per cent), Hindustan Unilever (up 2.61 per cent) and Titan Company (up 1.81 per cent) ended as the top gainers in the index.

4. Sectoral indices today

Most sectoral indices ended in the negative, with Nifty PSU Bank (down 2.52 per cent), IT (down 2.19 per cent), Pharma (down 1.97 per cent) and Realty (down 1.90 per cent) ending as the top losers.

Nifty Bank and Financial Services indices slipped 0.54 per cent and 0.69 per cent, respectively.

On the other hand, Nifty FMCG ended with a solid gain of 1.78 per cent. The Consumer Durables index also rose 0.23 per cent.

5. Most active stocks in terms of volume

According to NSE data, Vodafone Idea (50.15 crore shares), Tata Steel (7.34 crore shares) and YES Bank (6.95 crore shares) were the most active stocks in terms of volume.

6. 57 stocks hit 52-week highs

InterGlobe Aviation (IndiGo), Chambal Fertilisers & Chemicals and Narayana Hrudayalaya were among the 57 stocks that hit their 52-week highs in intraday trade on the BSE.

7. 78 stocks hit 52-week lows

Jai Corp, Orchid Pharma and Schneider Electric Infrastructure were among the 78 stocks that hit their 52-week lows in intraday trade on the BSE.

8. 80 stocks hit upper price bands on the NSE

Shares of Senco Gold, Godfrey Phillips India, Transformers And Rectifiers, NACL Industries and Keynote Financial Services, were among the 80 stocks that hit their upper price band during the session on NSE.

9. Advance-decline ratio

According to provisional data, 1,083 stocks advanced on the NSE on Tuesday, while 1,747 declined and 79 remained unchanged.

10. Nifty 50 outlook

According to Rupak De, Senior Technical Analyst at LKP Securities, Nifty continues to trade below the upper band of the falling channel and the 21-day EMA, indicating short-term weakness and resistance near 22,500.

The RSI shows a bearish crossover, reinforcing the negative momentum.

"The trend is expected to stay weak below 22,500, with a breakout potentially driving the index to 22,750–22,800. Failure to cross 22,500 may drag it down toward 22,000," said De.

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