Stock Market Crashes Over 1% as Investors Jittery Over US Tariff Moves
The Indian stock market continued its downward trend on Tuesday, with both Sensex and Nifty ending the day in the red, as investors reacted negatively to the latest tariff measures introduced by US President Donald Trump.
Mumbai: The Indian stock market continued its downward trend on Tuesday, with both Sensex and Nifty ending the day in the red, as investors reacted negatively to the latest tariff measures introduced by US President Donald Trump.
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Sensex and Nifty End in the Red
At the close of trading, Sensex dropped 1,018.20 points, or 1.32%, to settle at 76,293.60. The index fluctuated throughout the day, reaching a high of 77,387.28 and a low of 76,030.59.
Similarly, Nifty ended the session down by 309.80 points, or 1.32%, closing at 23,071.80. The index touched a high of 23,390.05 but fell to 22,986.65 at its lowest point.
Widespread Sell-Off in the Markets
The sell-off was widespread, with 44 out of the 50 Nifty stocks closing the session in the red. Eicher Motors, Apollo Hospitals, Shriram Finance, Coal India, and Bharat Electronics led the losses, with declines of up to 6.70%.
Also Read: Stock Market Opens Lower as Trump Imposes Steep Tariffs on Steel and Aluminium Imports
On the other hand, only six stocks—Adani Enterprises, Trent, Grasim, Bharti Airtel, and Hindalco—managed to stay in positive territory, with gains of up to 0.76%.
Broader Markets Hit Harder
The selling pressure was not confined to large-cap stocks; the broader markets were hit even harder. The Nifty Smallcap100 fell by 3.45%, while the Nifty Midcap100 dropped 3.02%, reflecting the widespread market weakness.
Sectoral Indices in Negative Territory
All sectoral indices on the NSE closed in negative territory, with broad-based selling pressure affecting almost every sector. The Nifty PSU Bank, Auto, Healthcare, Realty, and Media indices saw the steepest declines, with losses of up to 3.28%.
Sectors such as IT, FMCG, and consumer durables also struggled, closing the session down by over 1% each.
Concerns Over US Tariffs on Steel Imports
Meanwhile, the Indian Steel Association (ISA) expressed deep concern over the US decision to impose tariffs on steel imports, urging the Indian government to push for the removal of long-standing anti-dumping and countervailing duties and to seek exemptions from these restrictive measures.
The latest tariffs are expected to slash steel exports to the US by 85%, potentially leading to a massive steel surplus in India. The ISA warned that this surplus could flood the Indian market, causing further economic repercussions.
