Sensex is down over 1,000 points on Tuesday and Nifty down 1.3 per cent as Donald Trump’s tariff announcements spooked Dalal Street and weak corporate earnings weighed on the market sentiment. The benchmark Sensex was trading at 76,259, down 1,047 points, or 1.33 per cent. Zomato (-5.05 per cent), Tata Steel (2.91 per cent), L&T (-2.83 per cent), Bajaj Finserv (-2.74 per cent), Hindustan Unilver (2.18 per cent) were among the top losers on the 30-share index.
The broader Nifty50 was down 1.3 per cent, or 303.5 points, at 23,078 in the afternoon. While Eicher Motors (-6.61 per cent), Apollo Hospitals (6.37 per cent), and Shriram Finance (3.7 per cent) were the biggest losers, Adani Enterprises (+1.45 per cent), Grasim (0.87 per cent), and Trent (0.54 per cent) were the top gainers on the 50-share index. BSE MidCap was trading at 40,982, down 1,179 points, or 2.8 per cent. BSE SmallCap was down 1,613 points, or 3.29 per cent.
Trump on Monday raised tariffs on steel and aluminium imports to 25 per cent “without exceptions or exemptions” and said he would announce plans to impose reciprocal levies on several countries in the next two days.
The ongoing decline in Indian equities is driven by uncertainty on US tariffs, Reuters quoted UR Bhat, co-founder of investment firm Alphaniti Fintech, as saying, with some analysts adding that the bearish undertone is being fuelled by slowing earnings and sustained foreign outflows.
Both the Nifty 50 and Sensex lost about 1.5 per cent in the last four sessions. Foreign investors have offloaded Indian shares worth $9.94 billion so far this year.
On Tuesday, financials slipped 1 per cent, led by a 1 per cent decline in HDFC Bank.
Top-notch SEBI registered research analyst
Best SEBI registered Intraday tips provider
Telegram | Facebook | Instagram
Call: +91 9624421555 / +91 9624461555