Stock Market Today: Sensex Fell Over 190 Points, Nifty Below 22,100

Both the Sensex and Nifty were down 18 per cent and 19 per cent, respectively, from their record highs in September, pressured by concerns over growth, weak corporate earnings and more

The broader markets also saw declines, with the BSE Smallcap index slipping 0.8 per cent and the BSE Midcap index falling 1.2 per cent

Source : ABPLIVE AI

India's benchmark indices Sensex and Nifty opened lower on Tuesday, reflecting weakness in Asian markets following US President Donald Trump's confirmation that his proposed tariffs would proceed as planned. Starting today, the US will impose a 25 per cent tariff on imports from Canada and Mexico, while Chinese goods will face an additional 10 per cent levy, raising the total tariff on China to 20 per cent. Trump also announced reciprocal tariffs set to take effect on April 2, further intensifying trade tensions and causing turmoil in financial markets.

At 10.00 am, The Sensex dropped 191.71 points, or 0.26 per cent, to 72,894.23, while the Nifty fell 62.10 points, or 0.28 per cent, to 22,057.20. A total of 2,170 shares advanced, 1,011 shares declined, and 140 shares remained unchanged.

Both the Sensex and Nifty were down 18 per cent and 19 per cent, respectively, from their record highs in September, pressured by concerns over growth, weak corporate earnings, continued foreign selling, and trade uncertainties. In the previous session, both indices ended flat, with oil and gas and financial services stocks pulling the Nifty lower, while IT stocks offered some support.

Beyond the direct impact on trade, these tariffs could drive inflationary pressures in the US, potentially prompting the Federal Reserve to maintain higher interest rates for a longer period. This could result in reduced foreign capital inflows into emerging markets like India.

Broader Market

The broader markets also saw declines, with the BSE Smallcap index slipping 0.8 per cent and the BSE Midcap index falling 1.2 per cent. Both the small- and mid-cap indices officially entered bear market territory in February, having dropped over 20 per cent from their record highs.

Sectorial Update

In terms of sectoral performance, all 12 sectoral indices, except for Nifty PSU Bank, were either flat or in the red. Nifty IT was the worst performer, falling over 2 per cent, with Infosys and HCLTech leading the decline. This mirrored the 3 per cent drop in the tech-heavy Nasdaq Composite overnight.