Synopsis : Indian equity markets tumbled as US President Donald Trump announced sweeping tariffs on foreign imports. While IT stocks took a hit, pharma stocks surged, leading to a mixed session in the market.
Stock Market Live Updates:
Indian stock markets witnessed a significant sell-off on Thursday following the announcement of fresh tariffs by US President Donald Trump. The Nifty 50 dropped 150 points or 0.64% to open at 23,182, while the Sensex plunged nearly 500 points to 76,120 before recovering some losses. The broader market sentiment turned cautious as global indices also faced pressure.
Key Market Drivers:
Trump's Tariff Shockwave:
US President Donald Trump declared April 2 as “Liberation Day,” unveiling new tariffs that impose a universal 10% duty on all imports into the US, effective April 5.
Additionally, reciprocal tariffs have been placed on 60 countries, including India (26%), China (34%), Vietnam (46%), Japan (24%), and the European Union (20%).
Wall Street Futures Slump:
Dow Jones futures tumbled over 900 points following Trump’s announcement.
S&P 500 and Nasdaq futures saw declines of 3.9% and 4.7%, respectively, signaling potential global market turbulence.
Sector-Wise Market Performance:
IT Sector Decline : Nifty IT emerged as the worst-hit sector, reacting negatively to potential disruptions in the global supply chain.
Pharma Stocks Surge : Nifty Pharma jumped 4.7%, with investors betting on defensive plays amid uncertain market conditions.
Automobiles, Electronics & Jewellery in Focus: These industries are expected to feel the heat of higher import duties imposed by the US.
Asian Markets Under Pressure:
Major Asian indices, including Japan’s Nikkei and Hong Kong’s Hang Seng, saw sharp declines.
Investors are now eyeing policy responses from affected nations.
IPO and Primary Market Activity:
Infonative Solutions IPO (BSE SME) and Spinaroo Commercial IPO (BSE SME) are in the third day of their subscription window.
Retaggio Industries IPO (BSE SME) is closing today.
ATC Energies System IPO (NSE SME) and Shri Ahimsa Naturals IPO (NSE SME) are set for listing.
Market Outlook:
Market experts predict heightened volatility as investors react to the geopolitical developments. With global trade disruptions looming, traders are advised to remain cautious and adopt level-based trading strategies.
Disclaimer : This article is for informational purposes only and does not constitute financial advice. Investors should conduct their own research before making any investment decisions.
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