Wipro, SBI Fall and Dixon, Nestle Rises in Volatile Trade
Written by - Fisdom Research
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April 9, 2025
2 minutes
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Market Snapshot
Indian markets came under pressure on April 9 after a strong rebound in the previous session, as weak global cues triggered selling across most sectors.
As expected, the RBI’s Monetary Policy Committee cut the repo rate by 25 basis points to 6% in its first policy review of the new financial year, while shifting its stance from ‘neutral’ to ‘accommodative’.
RBI revised India’s FY26 GDP growth forecast to 6.5% and trimmed the inflation estimate to 4% from 4.2%.
The BSE Midcap index declined 0.8%, while the Smallcap index slipped 1%.
Except for Consumer Durables (up 0.3%) and FMCG (up 1.5%), all sectoral indices ended lower, with Realty, IT, and PSU Bank falling 2% each.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY FMCG
1.8
NIFTY PRIVATE BANK
-0.3
NIFTY CONSUMER DURABLES
0.2
NIFTY MIDSMALL FINANCIAL SERVICES
-0.7
NIFTY AUTO
0.0
NIFTY MIDSMALL HEALTHCARE
-0.7
NIFTY OIL & GAS
-0.3
NIFTY FINANCIAL SERVICES EX-BANK
-1.0
Top News
Wipro Ltd.: Shares fell 4.2% to ₹236.65, hit by a broader IT sector decline of 2%. Weak global cues weighed on sentiment.
SBI: Dropped 3.4% amid pressure on the banking sector. Global trade tensions and domestic concerns impacted performance.
Tata Steel Nederland: Announced 1,600 job cuts as part of a major restructuring plan. The move supports efficiency and green steel goals.
Dixon Technologies: Gained 2% after signing a ₹1,000 crore MoU with Tamil Nadu for a new facility. The plant will be set up near Chennai.
Nestle India: Stock rose 3.3% on defensive buying in the FMCG space. Investors sought safety amid market volatility.
Top Gainers and Losers
Top Gainers
% Change
Top Losers
% Change
NESTLEIND
3.3
WIPRO
-4.2
HINDUNILVR
2.6
SBIN
-3.4
TITAN
1.8
TECHM
-3.3
Technical Outlook: Key Indices
Indices Name
Support
Resistance
Nifty
22,200
22,700
Bank Nifty
50,000
50,800
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