Weekly Update-04 April 2025

NIFTY50

The index closed the week with a loss of 2.61%, settling at 22,904.45. The week began on a weak note with a gap-down opening on Tuesday, followed by sharp selling pressure throughout the session. The subsequent two days remained largely sideways, with the index consolidating within Tuesday’s range. However, on Friday, the index broke below that consolidation range, witnessing broad-based selling across sectors, which dragged it further down. For the upcoming week, key resistance is placed around 23,300, while immediate support is seen near the 22,300 zone.

BANKNIFTY

The index ended the week with a marginal loss of 0.12%, closing at 51,502.70. The week started on a weak note with a gap-down opening on Tuesday, followed by volatility and a negative close. However, in the subsequent sessions, the index showed resilience, managing to hold its key support levels despite continued weakness in the broader market. Notably, PSU Banks outperformed Private Banks, helping the index stay relatively stable through the week. For the upcoming week, key resistance is seen around 52,000, while immediate support is placed near the 50,500 zone.

Worst Performing Sector of the week

The Nifty IT was worst performing sector of this week

Major losers include:-

Coforge: down by 18.51%

Persistent: down by 16.39%

Hcl Technologies: down by 10.7%

TCS: down by 8.51%

Important News:-

• In this week, the Indian rupee extended the gains against the US dollar as it ended higher by 23 paise at 85.23 per dollar on April 4 against the March 28 closing of 85.46.

• Trump’s announcement Wednesday of major tariffs on US trading partners around the world sent the S&P 500 index of US stocks to its lowest level in 11 months, wiping away $5.4 trillion of market value in just two trading sessions to close out the week.

• India’s largest IT services giant will announce its Q4FY25 results on April 10 and will also consider its final dividend for FY25 on the same day.

• Foreign investors pulled out heavily from Indian equities this week reacting to the reciprocal tariffs by US President Donald Trump.

• The rout on Wall Street continued on Friday, with the Nasdaq earning a bear-market classification, after China imposed fresh tariffs on all U.S. goods in response to the Trump administration’s sweeping levies, escalating a global trade war.