Stock Market Outlook: Chris Wood of Jefferies on Whether It’s Time to Buy
Stock Market Report Today - 1 April 2025

Sensex dropped 260 points, Nifty below 23,500; biggest gainers were Trent, Hero Moto, and Bharti Airtel. Major Nifty gainers include Trent, Hero MotoCorp, ONGC, Tata Consumer, and Cipla; losers include Shriram Finance, Axis Bank, Bajaj Finserv, TCS, and Bajaj Finance. The BSE smallcap and midcap indices were up around 0.5 percent. The Indian indices opened down on April 1st, with the Nifty trading below 23,400, amid conflicting global indications. The Nifty was down 102.20 points, or 0.43 percent, at 23,417.15, while the Sensex was down 423.44 points, or 0.55 percent, at 76,991.48. Approximately 185 shares remained steady, 1161 shares fell, and 1279 shares increased. The Nifty saw significant gains from Trent, ONGC, Hero MotoCorp, Zomato, and Kotak Mahindra Bank, while Shriram Finance, Tech Mahindra, TCS, Bajaj Finance, and Apollo Hospitals saw losses.
Key Highlights of Today’s Stock Market Opening:
- Nifty 50: Opened down at 23,404.25.
- BSE Sensex: Opened low at 77,008.22.
- Nifty Bank: Opened lowered at 51,353.75.
- Nifty IT: Opened Lowered at 36,382.15.
- BSE SmallCap: Opened at 46,588.59.
- BSE MidCap: Opened at 41,377.76.
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Nifty, Sensex, and Market Trends Analysis
The market ended lower as IT and auto stocks dragged indices, with global uncertainty adding pressure. The Nifty and Sensex struggled despite support from FMCG stocks. Tariff concerns ahead of April 2 weighed on investor sentiment. NSE’s decision to delay its derivatives expiry shift drove BSE’s stock up 16%. Meanwhile, Tata Motors rebounded slightly after a steep decline due to tariff concerns affecting Jaguar Land Rover. The broader market saw a decline, with analysts warning of high valuations despite positive cues like rupee appreciation and reduced FII outflows.
Top Gainers and Top Losers in the Stock Market Today
Top Gainers: top five gainers in today’s session were: Tata Consumer Products: ₹1,001.90 (+28.35, +2.91%), Kotak Mahindra Bank: ₹2,171.20 (+42.55, +2.00%), Apollo Hospitals: ₹6,616.20 (+124.15, +1.91%), ONGC: ₹246.38 (+4.21, +1.74%), Tata Motors: ₹674.45 (+5.90, +0.88%), FMCG and banking stocks supported the market, with Tata Consumer leading gains. Tata Motors rebounded after a steep fall, and ONGC benefited from rising oil prices.
Top Losers: The top five laggards in today’s session were: Wipro: ₹262.25 (-9.95, -3.66%), IndusInd Bank: ₹649.85 (-23.70, -3.52%), Shriram Finance: ₹656.00 (-22.50, -3.32%), Cipla: ₹1,442.20 (-40.70, -2.74%), M&M: ₹2,665.80 (-67.20, -2.46%), IT and financial stocks faced selling pressure, with Wipro leading the decline. Auto sector weakness continued, impacting M&M. Investors remain cautious amid concerns over valuations and global trade uncertainties.
Market Momentum Over Time
March was a mixed month for the markets, witnessing strong rallies but also significant corrections. A weaker dollar index, rupee appreciation, and reduced FII outflows provided support. However, high valuations and global uncertainties, including tariff concerns, kept sentiment in check. The recent decline in auto and IT stocks weighed heavily on the indices, while FMCG provided some stability. The broader market remained under pressure, with smallcap and midcap stocks facing consolidation. Analysts believe the market is experiencing a natural pause after an extended rally, with further downside risks if global uncertainties persist.
Major Market Drivers and Key Movers
- Trump’s Auto Tariffs – Weighed on auto stocks, particularly Tata Motors and M&M.
- IT Stock Weakness – Wipro and other IT firms saw declines amid global headwinds.
- BSE Rally – Shares of BSE surged 16% as NSE delayed its derivatives expiry plan.
- FMCG Strength – Sector outperformed, with Tata Consumer and Britannia gaining.
- Rupee and FII Flows – A stronger rupee and reduced FII outflows provided some support.
Market sentiment remained fragile due to macroeconomic concerns, sector-specific headwinds, and cautious global trends.
Intraday Stock Market Dynamics and Key Trading Levels
Markets opened on a weak note as IT and auto stocks dragged the indices lower. Mid-session saw some recovery in select stocks, particularly in FMCG and Tata Motors. However, selling pressure resumed in the final hour, leading to a negative close. Despite some buying in PSU banks and oil & gas stocks, market sentiment remained weak. Analysts warn of further volatility in the coming sessions due to global uncertainties, while the broader market struggles to gain momentum. Probable Key support levels for Nifty are seen at 23,400, while resistance remains near 23,600.
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