Sensex Slips 123 Points, Nifty Falls Below 22,500

New Delhi : Indian benchmark indices opened lower on Wednesday, April 9, 2025, tracking weakness in global equities and cautious investor sentiment ahead of macroeconomic events. The 30-share BSE Sensex fell 123.25 points to start the session at 74,103.83, while the broader NSE Nifty 50 slipped 75.55 points, beginning the day at 22,460.30. This opening decline followed a mildly positive close in the previous trading session, where the Sensex had ended at 74,227.08 and the Nifty at 22,535.85.

The downtrend wasn’t confined to frontline indices alone. Broader markets also came under pressure, with the BSE Midcap and Smallcap indices declining over 1 percent each in early trade. The broader weakness indicated cautious trading activity across segments, likely driven by ongoing global uncertainty, subdued corporate earnings expectations, and volatility ahead of key domestic economic announcements.

Among the top performers in the Sensex pack during early trading were Power Grid Corporation, Nestle India, Hindustan Unilever, Maruti Suzuki, and Mahindra & Mahindra. Power Grid was the standout gainer, rallying by 5.02 percent, likely buoyed by sectoral rotation into utilities and defensive stocks amid market volatility. Consumer-focused counters like Nestle and Hindustan Unilever also attracted buying interest, as investors sought stability in fast-moving consumer goods amid global uncertainties.

On the flip side, pressure was visible in metal and IT stocks. Tata Steel led the list of losers, shedding 2.69 percent in the early session as global metal prices retreated and concerns around Chinese demand persisted. Tech stocks, including Tech Mahindra, Infosys, and HCL Technologies, were also trading in the red, weighed down by weak cues from the US tech sector. Pharma major Sun Pharma was another notable laggard, extending its recent slide.

The overall market breadth on the National Stock Exchange remained weak. Out of the total Nifty-listed stocks, 1,594 were trading in the red, while only 528 stocks were in the green. Another 78 stocks remained unchanged. The widespread decline reflected the risk-averse sentiment prevailing among traders and investors.