The stock market witnessed a massive fall on Tuesday with the 30-share BSE Sensex slipping 400 points at opening while the Nifty fell below 22,000 points.
What was feared happened
What was feared happened, the Indian stock market opened with a big fall amid poor global signals. The 30-share Sensex of the Bombay Stock Exchange plunged by more than 400 points the very next moment after opening. On the other hand, the Nifty-50 of the National Stock Exchange also slipped by more than 150 points in step with the Sensex. After US President Donald Trump’s announcement of imposing tariffs on Canada and Mexico, there was an uproar in the US markets as well as the Asian markets and the Indian market also seemed to be scared.
Sensex-Nifty made a bad start.
Amidst the negative global indicators received from the US to the Asian markets due to the sharp fall, the Indian stock market is already being predicted to fall. With the opening of the stock market on Tuesday, the Sensex opened at the level of 72,817.34 with a fall of 268 points compared to its previous close of 73,085 and this fall intensified further in just a few minutes. At the time of writing the news, the Sensex slipped more than 400 points to the level of 72,633.
Stock Market Update and Impact of Trump Tariffs
- Global Market Signals Drop
- Stock markets were already showing signs of decline based on global trends.
- Dow Jones closed at 43,191.24, down 1.48%.
- S&P fell 1.76% to 5,849.72.
- Nasdaq saw a bigger drop, closing at 18,350.19, down 2.64%.
- Market Shock Over Trump’s Tariffs
- Former US President Donald Trump announced 25% tariffs on imports from Canada and Mexico, effective March 4.
- Reports indicate that Mexico and Canada will face tariffs worth $1.5 trillion annually.
- Canada’s energy imports will have a 10% tariff.
- This caused panic not only in global markets but also in Indian markets.
- Stock Performance at Opening
- 712 companies’ stocks started strong in the green zone.
- However, 1,612 stocks opened with losses.
- 152 stocks showed no change.
Here’s a summary of the text in the image:
Top Falling Stocks in Early Trading
- The stocks that saw the biggest decline included:
- Nestle India (-2.80%)
- HCL Tech (-2.50%)
- Tech Mahindra (-2.10%)
- Titan (-1.80%)
- In midcap companies, the biggest losers were:
- UNO Minda (-2.67%)
- Bharti Hexa (-1.70%)
- Among smallcap companies, major declines were seen in:
- Repro (-9.27%)
- EKI (-4.99%)
- Kamo Paints (-4.99%)
Important Note:
“Before making any investments in the stock market, consult your market experts.”