Stock Market Today: Sensex Tank Over 930 Points, Nifty Below 22,250 Amid Tariff Concerns

Trump announced on Thursday that his proposed 25 per cent tariffs on Mexican and Canadian goods would go into effect on March 4, along with an additional 10 per cent duty on Chinese imports

The broader markets took a heavier hit, with both the BSE Midcap and BSE Smallcap indices plummeting over 2 per cent

Source : ABPLIVE AI

India’s stock benchmarks, the Sensex and Nifty, opened sharply lower on Friday, falling by one per cent as investors reacted to US President Donald Trump’s new tariff threats and awaited key GDP data for the December quarter. The broader markets took a heavier hit, with both the BSE Midcap and BSE Smallcap indices plummeting over 2 per cent.

At 10 am, the Sensex dropped 1,009.73 points, or 1.35 per cent, to 73,602.70, while the Nifty fell 312.35 points, or 1.39 per cent, to 22,232.70. Out of the total stocks traded, 519 advanced, 2,652 declined, and 106 remained unchanged.

Among Nifty 50 stocks, Infosys, Wipro, IndusInd Bank, M&M, and Tech Mahindra were the hardest hit. Meanwhile, Grasim, RIL, Shriram Finance, and Coal India were the top gainers.

Tariff Concerns

Trump announced on Thursday that his proposed 25 per cent tariffs on Mexican and Canadian goods would go into effect on March 4, along with an additional 10 per cent duty on Chinese imports, citing the ongoing flow of deadly drugs into the US. These new tariffs would be added to the 10 per cent levy imposed on February 4 due to the fentanyl crisis, raising the total duty on Chinese imports to 20 per cent.

The Nifty 50 index has fallen over 4 per cent so far in February and is on track for its fifth consecutive month of losses—the longest losing streak in 29 years. A mix of concerns over slowing economic growth, weakening earnings momentum, Trump’s trade policies, and continuous selling by foreign investors has contributed to a 14 per cent decline from the benchmarks' record highs in late September.

So far in February, foreign institutional investors (FII) have sold Indian equities worth Rs 47,349 crore, while domestic institutional investors have made net purchases of Rs 52,544 crore.

All 13 major sectoral indices ended in the red, with most declining between 1 per cent and 3 per cent. IT, financials, and auto stocks were the biggest contributors to the Nifty's decline.

The Nifty IT index dropped more than 3 per cent, with all 10 of its components falling between 1 per cent and 4 per cent.

Global Markets

Global cues remain negative, as Wall Street closed lower on Thursday following disappointing US economic data and a pullback in tech stocks. European markets also declined, driven by renewed concerns over tariffs. Asian markets followed suit, reflecting the overnight declines in the US, especially after a sell-off in chipmaker Nvidia.