A significant plunge is being observed in the stock market. Donald Trump's announcement of a 25% tariff and additional fines on India is having a conspicuous impact on the Indian markets today. Nifty opened with a gap down of over 200 points, while Sensex suffered a fall exceeding 750 points. Nifty Bank fell around 300 points, Nifty IT dropped 215 points, and the FMCG sector was down over 300 points.
By 9:20 AM, BSE Sensex had dropped 500 points, trading at 81,006.65, while Nifty was down by 160 points at 24,688. Among the BSE top 30 companies, 26 stocks saw sharp declines, with Tata Motors, RIL, M&M, and Bharti Airtel experiencing the steepest drop of nearly 2%. On the contrary, 4 companies showed gains, with Zomato topping the list.
Source: aajtak
Significant Declines in Small and Midcap Sectors
In early trading, BSE Smallcap suffered over a 400-point drop, Nifty Smallcap witnessed a 600-point decrease, with BSE Midcap dropping more than 300 points. Phase Three Limited's shares decreased by 10% in Smallcap, while Premier Energies Ltd led the decline in Midcap with a 3.5% fall.
61 Stocks Reach Lower Circuit
Out of 3,085 traded stocks on BSE today, 887 stocks showed gains, whereas 2,033 stocks traded lower. 165 stocks remained flat during trading. 61 stocks hit the upper circuit and 61 stocks reached the lower circuit. Additionally, 51 stocks hit a 52-week low, while 36 stocks reached a 52-week high.
Heavy Losses for Investors
A substantial decline was visible in BSE market capitalization, indicating a decrease in investor valuations. The previous day's BSE market cap of 452.29 lakh crore rupees dropped by about 3 lakh crore rupees, reaching around 449.56 lakh crore rupees in early trading today.
Which Sectors Bore the Brunt?
IT, Pharma, PSU Banks, Nifty Realty, and Consumer sectors took a significant hit from Trump's tariffs. The Oil and Gas sectors experienced the most considerable downturn, with Nifty Oil and Gas sectors falling by 1.5%. Following that, the IT and Pharma sectors were trading down by up to 1%.
