On March 27, 2025, the Indian stock market saw a sharp decline, with 281 stocks hitting 52-week lows and 64 stocks reaching 52-week highs. The Sensex dropped over 700 points, closing at 77,288, while the Nifty 50 fell to 23,486. The downturn was influenced by global uncertainties, profit booking, and concerns over upcoming US tariff announcements. Major stocks such as HDFC Bank and Infosys led the losses, highlighting investor caution ahead of potential trade policy changes.
The Indian stock market faced a significant correction, with 281 stocks touching their 52-week lows and 64 stocks reaching new highs amid heightened global uncertainties. The Sensex plunged over 700 points, closing at 77,288, while the Nifty 50 dropped to 23,486, marking the end of a seven-day winning streak.
Among the stocks hitting 52-week lows were Delta Corp, Equitas Small Finance Bank, Happiest Minds Technologies, Infibeam Avenues, Kesoram Industries, Orchid Pharma, Paisalo Digital, RateGain Travel Technologies, Spandana Sphoorty Financial, Star Health and Allied Insurance Company, and Vakrangee. Meanwhile, stocks like AAVAS Financiers, Chambal Fertilisers & Chemicals, and SBI Cards and Payment Services were among those reaching new highs.
Market analysts attributed the fall to profit booking after a strong rally and growing uncertainty over the US tariff announcements set for April 2. The looming decision by the US government could impact Indian exports, particularly in the IT and pharmaceutical sectors.
Nifty 50 Outlook
According to Rupak De, Senior Technical Analyst at LKP Securities, the Nifty 50 extended its correction as it fell below the support level of 23,600, testing the 23,400 mark. Technical indicators suggest a bearish trend, with a negative crossover in the RSI (14) on the hourly chart.
- Support Level: 23,300, which could be tested if the decline continues.
- Resistance Level: 23,550, a break above which could improve sentiment.
Market experts advise investors to stay cautious amid global economic challenges and domestic profit-taking as the market navigates a volatile phase.
