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Stock markets close deep in the red on day 2 of Trump's tariffs; Sensex down 930 points, Nifty down 345
The stock market crashed during the trading session on Friday, with metal, pharma, and energy stocks plummeting the most.
The stock market crashed during the trading session on Friday, with metal, pharma, and energy stocks plummeting the most. The indices closed deep into the red on the second trading day since US President Donald Trump's tariffs came into effect.
The benchmark BSE Sensex closed 930.67 points or 1.22% into the red, reaching 75,364.69. The broader NSE Nifty was down by 345.65 points or 1.49% in the red, reaching 22,904.45.
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Which stocks fell the most?
Among the Sensex stocks, Tata Steel fell the most by 8.36%, closing at ₹140.80. This was followed by Tata Motors, which fell 5.92%, closing at ₹615.30, and Larsen & Toubro, which fell 4.69%, closing at ₹3,258.40.
Only seven out of the 30 Sensex stocks were in the green.
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How did individual sectors perform?
Among the Nifty sectoral indices, the Nifty Metal Index fell the most by 6.56%, reaching 8,414.45. This was followed by the Nifty Pharma Index, which fell 4.03%, reaching 20,560.00, and the Nifty Oil & Gas Index, which fell 3.78%, reaching 10,134.10.
Pharma stocks, which were among the ones performing well initially, plummeted today after Trump announced that tariffs on pharmaceuticals are also going to come in at levels not seen before. So far, pharmaceuticals have not been subject to the tariffs.
The Oil & Gas index fell at a time when global oil prices are also falling. The benchmark Brent Crude was down 3.34% or by $2.34 for June 2025 contracts, trading at $67.80 per barrel, while WTI Crude was down 3.58% or by $2.40 for May 2025 contracts, reaching $64.55 per barrel.
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How did the stock market open today?
The stock market opened lower today, with IT, metal, and telecom stocks falling the most.
At 9.15 am, the benchmark BSE Sensex was down by 325.14 points or 0.43 per cent, reaching 75,970.22. The broader NSE Nifty opened 119.35 points down or 0.51 per cent in the red, reaching 23,130.75.
Among the 30 Sensex stocks, Infosys fell the most upon opening by 2.14 per cent, trading at ₹1,465. This was followed by HCL Technologies, which was down 1.67 per cent, trading at ₹1,446.30, and IndusInd Bank, which was down by 1.52 per cent, trading at ₹698.60.
Only five of the Sensex stocks were in the green.
Among the Nifty sectoral indices, the IT Index fell the most by 1.86 per cent, reaching 34,112.05. This was followed by Nifty Metal, which was down 1.28 per cent, reaching 8,889.85, and Nifty Midsmall IT & Telecom, which was down 1.05 per cent, reaching 8,808.30.
The Mid Small IT and Telecom Index fell the most on yesterday's open by 1.94 per cent, reaching 9,055.90, while the IT Index was down the second-most by 1.67 per cent, reaching 35,676.45.
