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  5. NIFTY50 trades over 1% lower amid tariff woes; Vedanta, Coforge, ONGC, Gland Pharma, and Cipla among top buzzing stocks

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NIFTY50 trades over 1% lower amid tariff woes; Vedanta, Coforge, ONGC, Gland Pharma, and Cipla among top buzzing stocks

Upstox
By Upstox News Desk

4 min read | Updated on April 04, 2025, 12:55 IST

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SUMMARY

Stock market today: At 12:42 PM, the S&P BSE SENSEX was trading at 75,524.20, down 771.16 points, or 1.01%, while the NSE's NIFTY50 index was trading at 22,956.55, down 293.55 points, or 1.26%.

Stock list

VEDL
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COFORGE
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GLAND
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Metal stocks witnessed heavy selling pressure amid growth concerns following the imposition of reciprocal tariffs by the US.

Metal stocks witnessed heavy selling pressure amid growth concerns following the imposition of reciprocal tariffs by the US. | Image: Pixabay

Stock market today: Indian markets were deep in the red in the afternoon deals on Friday, April 4, amid weak global cues and as market participants assessed the impact of the reciprocal tariffs by the US.

At 12:42 PM, the S&P BSE SENSEX was trading at 75,524.20, down 771.16 points, or 1.01%, while the NSE's NIFTY50 index was trading at 22,956.55, down 293.55 points, or 1.26%.

The selling in the broader market was more brutal. The BSE MidCap index was trading at 40,627.34, down 1,168.74 points, or 2.80%, while the BSE SmallCap index was trading at 46,045.22, down 1,448.89 points, or 3.05%.

Here is a list of stocks that are buzzing in today's trade.
Gland Pharma, Lupin, Cipla, and other pharma stocks: A day after witnessing healthy buying, shares of pharma companies came under heavy selling pressure on Friday, April 4, amid reports that the Trump administration will soon announce tariffs on pharma imports and emphasised that the measures will be "unprecedented".

The NIFTY PHARMA index was trading nearly 4% lower at 20,574.35 levels.

US President Trump has said that tariffs on pharmaceuticals and semiconductors will be announced shortly, emphasising that the measures on pharmaceutical imports will be unprecedented.

Earlier, the Trump administration had exempted pharmaceuticals and semiconductors from the reciprocal tariff policy. Accordingly, shares of pharmaceutical companies on Thursday had settled with gains of as much as 7%.

Metal stocks: Metal stocks witnessed heavy selling pressure amid growth concerns following the imposition of reciprocal tariffs by the US.
The NIFTY METAL index was trading over 5.3% lower at 8,524.40 levels. The top losers were Vedanta (down over 7.6%), NALCO, and Hindustan Copper (down over 7%).
IT stocks: Shares of IT stocks continued their slide on Thursday. The NIFTY IT index was trading 3% lower at 33,709.20 levels.
All 10 constituents were trading lower. Coforge was down over 6%, while Persistent Systems was trading 5.68% lower. READ MORE
Mazagon Dock: Shares of Mazagon Dock Shipbuilders, a leading Indian shipbuilding yard under the Ministry of Defence, slipped as much as 7.1% to ₹2,542 apiece on Friday, April 4, as the government on Thursday said it would sell up to a 4.83% stake in the PSU at a floor price of ₹2,525 per share.
Shares of Mazagon Dock closed at ₹2,737.55 apiece on the NSE on Thursday. This shows that the floor price for the OFS is 7.76% lower than its previous close. READ MORE
ONGC, Oil India: Shares of Oil and Natural Gas Corporation (ONGC) slipped as much as 7.25% to ₹225.70 apiece on the BSE on Friday, April 4, following a sharp fall in crude oil prices.

Oil prices tumbled on Thursday to settle with their steepest percentage loss since 2022 after OPEC+ agreed to a surprise increase in output the day after US President Donald Trump announced sweeping new import tariffs.

Apart from ONGC, Oil India shares, too, took a hit during the trade. The stock fell as much as 6.7% to ₹360 on the BSE.

Tata Motors: Shares of Tata Motors, the parent of luxury car maker Jaguar Land Rover (JLR), fell as much as 6.23% to hit an intraday low of ₹613.15 apiece on the NSE.

The sharp selloff in the stock came after CLSA, Asia's leading capital markets and investment group, said that the imposition of 25% US tariffs and the reduction in the number of model offerings for Jaguar Land Rover may lead to a drop in Jaguar Land Rover volumes by 14% in financial year 2025-26.

Bharat Forge: Shares of Bharat Forge were trading 7% lower at ₹1,041.45 apiece on the BSE. The stock price slipped after Morgan Stanley wrote in its note that the 25% to 27% tariff burden could offset the gains the company is set to clock.

The global broking firm, according to news reports, said that Bharat Forge has scaled its non-auto business well, and with the domestic ATAGS order win, non-auto revenues could reach 46% of the overall topline in financial year 2027.

HDFC Bank: Shares of HDFC Bank climbed on Friday, April 4, after India's largest private sector lender released its latest business update.

The stock advanced 2.62% to ₹1,841.95 apiece on the National Stock Exchange (NSE).

The bank's period-end advances under management stood at ₹27.73 lakh crore as of March 31, 2024, reflecting a growth of 7.7% from ₹25.75 lakh crore as of March 31, 2024.

Its period-end gross advances were ₹26.43 lakh crore as of March 31, 2025, a growth of around 5.4% over ₹25.07 lakh crore as of March 31, 2024.

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Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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