US-China Ties In Distress Amid Trade Tensions, Sensex Closes Above 82,300
Both Sensex and Nifty declined on Monday morning, along with a sharp decline in global markets after the US announced an additional 100 per cent tariff on Chinese goods, starting from Nov 1.
The Indian benchmark indices tanked on Monday as trade tensions between US and China escalated, with the BSE Sensex closing at 82,327.05, declining 173.77 points and the NSE Nifty50 crashing 58 points to end at 25,227.35.
Among the top gainers were stocks like Adani Ports, Bajaj Finance, Bajaj Finserv, NTPC, and Axis Bank and the laggards included stocks like Trent, HCL Tech, Tech Mahindra, Sun Pharmaceuticals, and Eternal.
In the broader markets, the Nifty Microcap250 tanked by 0.54 per cent. The Nifty VIX gained 8.95 per cent, indicating an increase in uncertainty, expected high volatility, and market fear within the stock market. Sectorally, the Nifty Midsmall IT & Telecom showed a sharp decline of 1.13 per cent and the Nifty Midsmall Financial Services gained 1.02 per cent.
Both Sensex and Nifty declined during early trade on Monday, along with a sharp decline in global markets after the US announced an additional 100 per cent tariff on Chinese goods, starting from November 1. The Sensex dropped 451.82 points to 82,049 during opening hour, while the Nifty declined 109.55 points to 25,175.80.
US markets closed significantly lower on Friday. The Nasdaq Composite also tanked 3.56 per cent, while the S&P 500 tumbled 2.71 per cent and the Dow Jones Industrial Average dropped 1.90 per cent.
What Caused The Market Crash Today?
Investor sentiment turned cautious after the United States announced a 100 per cent tariff on all Chinese imports effective November 1, reigniting concerns of a potential trade war. Although President Trump later moderated his position, clarifying that Washington did not intend to “hurt China,” the reassurance only partially eased market nerves, leading to a mild recovery in US stock futures.
Caution, however, continues to dominate global markets amid heightened uncertainty, said Ponmudi R, CEO of Enrich Money, an online trading and wealth-tech platform. Meanwhile, global oil benchmark Brent crude rose 1.48 per cent to $63.66 a barrel. On the domestic front, data from stock exchanges showed that Foreign Institutional Investors (FIIs) purchased equities worth Rs 459.20 crore on Friday.
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