Share Market Today: Sensex About 400 Points Down, Nifty Under 23,450. See Why Indices Are Bleeding
On Sensex, Bharti Airtel, HUL, SBI, and TCS emerged as the gainers in the morning session. On the other hand, the laggards so far included Tata Steel, PowerGrid, NTPC, Zomato, and Reliance.
The Indian equity markets began the trading week on a negative sentiment. On Monday morning, the benchmark indices, Sensex and Nifty, started the session in red as investors remained wary of more tariffs from US President Donald Trump’s administration.
At 9:30 AM, the BSE Sensex declined over 250 points to trade under 77,600, while the NSE Nifty50 tanked close to 100 points to stand at 23,463.85.
On the 30-share Sensex, Bharti Airtel, Hindustan Unilever, Nestle, State Bank of India, and TCS emerged as the gainers in the morning session. On the other hand, the laggards so far included Tata Steel, PowerGrid, NTPC, Zomato, and Reliance, among others.
In the broader markets, the indices painted a bleak picture. The Nifty Microcap 250 index dominated in red and tanked 1.43 per cent in the session so far. Sectorally, the Nifty Metal index stood out as the biggest laggard in the session, plunging 2.43 per cent.
Why Are Markets Down?
This sentiment in the markets could be attributed to the fresh tariffs on aluminium and steel imports expected from Trump’s government. Speaking to reporters on Sunday, the US President said that the tariffs would be applicable on imports of metals from all countries. Notably, Trump plans to impose 25 per cent tariffs on all imports of steel and aluminium. However, he didn’t disclose any details as to when the tariffs will come into effect. The decision has caused worry among investors who see the possibility of a trade war increasing.
As markets progressed, indices continued to slip further. Around 10:06 AM, the Sensex slumped nearly 400 points and breached the 77,500 mark to trade at 77,465.33. At the same time, the Nifty tanked almost 120 points to stand at 23,441.10 in the session.
The Indian rupee plunged 45 paise to reach a new record low of 87.95 against the US dollar in early trade on Monday. The domestic currency was weighed down by the strength of the American currency in the global market and the weak sentiment in equities.
Top Headlines
