Sensex, Nifty Tank Over 3% Amid Rising Global Trade War Fears
In a major market crash on Monday morning, Indian stock markets witnessed a sharp sell-off in response to escalating global trade war concerns and impending US reciprocal tariffs.
Mumbai: In a major market crash on Monday morning, Indian stock markets witnessed a sharp sell-off in response to escalating global trade war concerns and impending US reciprocal tariffs.
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Key Indices Plunge in Early Trade
As of 9:55 am, the BSE Sensex plunged by 2,690 points (3.57%), dropping to 72,654, while the NSE Nifty declined 881 points (3.85%) to settle at 22,020.
Broader Market Sees Heavy Selling
The sell-off extended beyond large-cap stocks. The Nifty Midcap 100 index fell 2,335 points (4.61%) to 48,310, while the Nifty Smallcap 100 index dropped 1,055 points (6.73%) to 14,620, reflecting broad-based weakness.
Sectoral Indices Deep in the Red
All sectoral indices traded in the negative territory, with auto, IT, realty, media, energy, and infrastructure stocks leading the losses.
Major Lagging Stocks in the Sensex Pack
Heavyweights such as Tata Steel, Tata Motors, Infosys, Tech Mahindra, L&T, HCL Tech, TCS, Reliance Industries, NTPC, Axis Bank, M&M, Kotak Mahindra Bank, and IndusInd Bank were among the top losers.
Global Markets Follow Suit
Asian markets were not spared either. Tokyo, Shanghai, Bangkok, Seoul, and Hong Kong’s Hang Seng indices dropped by as much as 11% in early trade.
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US Markets Crashed on Friday
The global sell-off began with the US markets, where the Dow Jones closed 5.50% lower and the Nasdaq fell 5.82%, following fears over retaliatory tariffs.
Crude Oil Prices Slide
Adding to the economic unease, oil prices tumbled after Saudi Arabia announced its steepest price cuts in years.
- Brent crude: down 2.67% to $63.82 per barrel
- West Texas Intermediate (WTI): down 2.69% to $60.31 per barrel
Technical Outlook on Nifty
Hardik Matalia, Derivative Analyst at Choice Broking, stated:
“On the technical front, the Nifty 50 has formed a bearish candle on the daily chart, signaling selling pressure at key resistance levels.”
He noted that immediate support levels are at 22,400 and 22,000, which could serve as potential reversal points, provided favorable price action is observed.
