Stock market fails to revive amid Trump tariffs coming into effect
US President Donald Trump had reaffirmed that he would increase tariffs on China to 20 per cent and that the Mexico and Canada tariffs would come into effect.
The stock market stayed in the red territory on Tuesday, March 4, 2025 after US President Donald Trump said his proposed tariffs would go into effect as planned.
At 12:30 pm IST, the benchmark BSE Sensex dropped by 150.44 points or 0.21 per cent, reaching 72,935.50. The broader NSE Nifty was 50.60 points down or 0.23 per cent in the red, reaching 22,068.70.
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Which stocks fell the most?
Among the 30 Sensex stocks, Bajaj Finserv fell the most by 2.43 per cent, trading at ₹1,793.60. This was followed by Nestle India, which was down 2.41 per cent, trading at ₹2,133.10, and HCL Technologies, which was down by 1.78 per cent, trading at ₹1,544.85.
12 of the Sensex stocks were in the green.
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How did individual sectors perform?
Among the Nifty sectoral indices, the Nifty Auto Index fell the most by 1.20 per cent, reaching 20,291.40. This was followed by Nifty FMCG which was down 1.06 per cent, reaching 50,249.80, and Nifty Midsmall IT & Telecom, which was down 0.82 per cent, reaching 8,698.90.
What did US President Donald Trump say?
US President Donald Trump had reaffirmed that he would increase tariffs on China to 20 per cent and remarked that there was "no room left" for a deal that would avert the tariffs which are aimed at curbing fentanyl flows into the US.
The Canada and Mexico tariffs would also come into effect today.
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How did the stock market open?
The stock market opened into the red as the trading session began on Tuesday, March 4, 2025, with IT, telecom, and real estate stocks falling the most.
At 9:20 am IST, the benchmark BSE Sensex dropped by 341.82 points or 0.47 per cent, reaching 72,744.12. The broader NSE Nifty opened 132.80 points down or 0.6 per cent in the red, reaching 21,986.50.
Among the 30 Sensex stocks, Tech Mahindra fell the most upon open by 2.74 per cent, trading at ₹1,452.25. This was followed by HCL Technologies, which was down 2.47 per cent, trading at ₹1,534.05, and NTPC, which was down by 1.96 per cent, trading at ₹308.35.
Only three of the Sensex stocks were in the green.
Among them, SBI rose the most upon open by 0.93 per cent, trading at ₹701.60. This was followed by ICICI Bank, which was up 0.73 per cent, trading at ₹1,214.95, and HDFC Bank, which was up by 0.55 per cent, trading at ₹1,710.55.
Among the Nifty sectoral indices, the Nifty Midsmall IT & Telecom Index fell the most by 2.40 per cent, reaching 8,561.00. This was followed by Nifty Realty which was down 2.23 per cent, reaching 789.95, and Nifty IT, which was down 2.03 per cent, reaching 36,852.50.
In contrast, Nifty Realty was the index which gained the third-highest on open yesterday by 1.15 per cent.
