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Why stock market fell today, which stocks are the top losers?
The stock market stayed in the red during the early trading session on Thursday, April 3.
The stock market opened lower and stayed in red on Thursday as they opened hours after US President Donald Trump's sweeping reciprocal tariff plan announcement. IT stocks were among those that werhit the most on Thursday.
At 10:30 am, the benchmark BSE Sensex was down by 157.47 points or 0.21 per cent, reaching 76,459.97. Meanwhile, the broader NSE Nifty fell 45.10 points or 0.19 per cent into the red, reaching 23,287.25.
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Why did stock market fall?
The stock market drop comes after US President Donald Trump announced a “discounted” reciprocal tariff of 26 per cent on India on Wednesday. However, White House documents indicate that there will be a 27 per cent duty on India.
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An exception in Donald Trump's reciprocal tariffs was the pharmaceutical sector, which was exempted from the new tariffs. This exemption led to a surge in the pharma index on Thursday and helped cushion the blow on the Indian stock market.
Which stocks are the top losers?
Among the 30 Sensex stocks, the four which fell the most were all IT stocks.
Tech Mahindra fell the most by 2.83 per cent, trading at ₹1,383.35. This was followed by TCS, which was down by 2.82 per cent, trading at ₹3,445.00, Infosys, which was down 2.70 per cent, trading at ₹1,508.00, and HCL Technologies which fell 2.55 per cent, trading at ₹1,488.50.
However, 18 of the Sensex stocks were in the green.
Also Read: Global stock markets dive as Donald Trump's reciprocal tariffs kick in, tech hit the worst
How did individual sectors perform?
As of 11:35 am, the IT Index were the worst hit with a drop of 3.08 per cent among the Nifty sectoral indices, reaching 35,164.75. This was followed by Nifty Midsmall IT & Telecom, which was down 3.44 per cent, reaching 8,917.70, and Nifty Metal, which was down 0.67 per cent, reaching 9,019.55.
How did the stock market open?
The stock market opened lower as the trading session for the day began with IT, telecom, and real estate stocks falling the most.
At 9.15 am, the benchmark BSE Sensex was down by 499.45 points or 0.65 per cent, reaching 76,117.99. The broader NSE Nifty opened 125.25 points down or 0.54 per cent in the red, reaching 23,207.10.
