Stock market crashes as India braces for Trump's reciprocal tariffs going live April 2
US President Trump, who is set to roll out reciprocal tariffs from April 2, has singled out India several times as countries that charge high taxes on US goods.
Stock market crashed during the trading session on Tuesday, April 1, which is also the first day of the fresh fiscal year, a slump driven by upcoming reciprocal tariffs announced by US President Donald Trump on countries charging US high taxes, India being among them.
US President Donald Trump, who is set to roll out reciprocal tariffs from April 2, has singled out India several times as countries that charge high taxes on US goods.
Real estate, IT, and consumer durables stocks were down the most.
At 11:40 am, the benchmark BSE Sensex was down by 1,193.89 points or 1.54 per cent, reaching 76,221.03. The broader NSE Nifty was 303.15 points down or 1.29 per cent in the red, reaching 23,216.20.
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Which stocks fell the most?
Among the 30 Sensex stocks, Bajaj Finserv fell the most by 3.40 per cent, trading at ₹1,937.75. This was followed by HDFC Bank, which was down 2.87 per cent, trading at ₹1,776.10, and Bajaj Finance, which was down by 2.80 per cent, trading at ₹8,698.50
Bajaj Finance also had fallen the third-most on today's open, by 1.66 per cent, trading at ₹8,800.
{{/usCountry}}Bajaj Finance also had fallen the third-most on today's open, by 1.66 per cent, trading at ₹8,800.
{{/usCountry}}Only two of the Sensex stocks were in the green. These were IndusInd Bank, which was up 4.35 per cent, trading at ₹677.80, and Zomato, which was up by 0.69 per cent, trading at ₹202.90
{{/usCountry}}Only two of the Sensex stocks were in the green. These were IndusInd Bank, which was up 4.35 per cent, trading at ₹677.80, and Zomato, which was up by 0.69 per cent, trading at ₹202.90
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How did individual sectors perform?
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How did individual sectors perform?
{{/usCountry}}Among the Nifty sectoral indices, the Realty Index fell the most by 3.45 per cent, reaching 821.95. This was followed by Nifty IT, which was down 2.33 per cent, reaching 36,027.85, and Nifty Consumer Durables, which was down 2.27 per cent, reaching 34,843.60.
{{/usCountry}}Among the Nifty sectoral indices, the Realty Index fell the most by 3.45 per cent, reaching 821.95. This was followed by Nifty IT, which was down 2.33 per cent, reaching 36,027.85, and Nifty Consumer Durables, which was down 2.27 per cent, reaching 34,843.60.
{{/usCountry}}The IT Index had fallen the most on today's open by 1.57 per cent, reaching 36,305.35, and had also fallen the second-most on Friday's open by 0.15 per cent, reaching 37,491.45.
{{/usCountry}}The IT Index had fallen the most on today's open by 1.57 per cent, reaching 36,305.35, and had also fallen the second-most on Friday's open by 0.15 per cent, reaching 37,491.45.
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How did the stock market open?
The stock market opened in red as the trading session for the week began on Tuesday. IT, financial services, and metal stocks were down the most.
At 9.15 am, the Sensex was down by 572.15 points or 0.74 per cent, reaching 76,842.77. The Nifty opened 125.35 points down or 0.53 per cent in the red, reaching 23,394.00.
By 10:45 am, the Sensex was down by 868.54 points or 1.12 per cent, reaching 76,546.38. It briefly fell 1,000 points, hitting an intraday low of 76,415.69. Meanwhile, the Nifty fell 183.10 points or 0.78 per cent into the red, reaching 23,336.25. Its low was 23,276.10.
Among the 30 Sensex stocks, Infosys fell the most upon opening by 2.25 per cent, trading at ₹1,535.10. This was followed by NTPC, which was down 1.82 per cent, trading at ₹351.15, and Bajaj Finance, which was down by 1.66 per cent, trading at ₹8,800.
Infosys had also fallen the most upon open last Friday by 0.54 per cent, trading at ₹1,594.95. Monday was a market holiday due to the occasion of Eid-ul-Fitr.
Ten of the Sensex stocks were in the green.
Among the Nifty sectoral indices, the IT Index fell the most by 1.57 per cent, reaching 36,305.35. This was followed by Nifty Financial Services, which was down 0.75 per cent, reaching 26,262.20, and Nifty Metal, which was down 0.69 per cent, reaching 9,029.35.
The IT Index had also fallen the second-most on Friday's open by 0.15 per cent, reaching 37,491.45.
