Share Market: Markets in trouble due to Trump’s new tariff, Sensex-Nifty pace put on hold due to fears of trade war

New Delhi| After US President Donald Trump’s announcement of new tariffs, Gholu stock market once again opened on the red mark. Sensex and Nifty opened with losses amid fears of a trade war that intensified after the latest US announcement involving the imposition of 104 per cent tariff on China. In early trade yesterday, Sensex and Nifty were seen trading with a negative trend, putting a break in the high pace of the stock market. Sensex fell 554.02 points to 73,673.06 in early trade. Similarly, Nifty fell by 178.85 points to reach 22,357 points.

Benchmark equity indices fell in early trade on Wednesday. This was also estimated after the decline in Asian markets. Amidst the increasing trade war, the eyes of domestic investors were fixed on the monetary policy decision of the Reserve Bank. The 30-share BSE benchmark Sensex fell 554.02 points to 73,673.06 in early trade, while the NSE Nifty was seen trading 178.85 points to 22,357. Foreign institutional investors (FIIs) sold shares worth Rs 4,994.24 crore on Tuesday, according to exchange data.

Who benefits and who suffers?
Among Sensex companies, Tata Steel, Tech Mahindra, Infosys, HCL Tech, Tata Consultancy Services, Sun Pharma, Larsen & Toubro and NTPC were the most backward. Power Grid, Nestle, Mahindra & Mahindra and Hindustan Unilever were among the gainers.

Condition of Asian R American market
In Asian markets, Tokyo’s Nikkei 225 index, South Korea’s Kospi and Hong Kong’s Hang Seng were trading in the red. In contrast, the Shanghai SSE Composite Index was trading marginally positive. Tokyo’s Nikkei 225 index had dropped 3.63 percent. American markets closed much lower on Tuesday.

Earlier on Tuesday, the Sensex had closed 1,089 points higher on all-round buying amid a rally in Asian and European markets. For the third consecutive trading session, the rupee had closed at Rs 86.26 (temporary), down 50 paise against the dollar. This was the biggest one-day fall in the rupee in the last three months.

BSE’s 30-share sensitive index Sensex had closed at 74,227.08 points, jumping 1,089.18 points or 1.49 per cent, putting an end to the three-day fall. Its 29 shares were in profit. It had climbed 1,721.49 points, or 2.35 percent, to 74,859.39 points during trading. Similarly, NSE Nifty had increased by 374.25 points or 1.69 percent to reach 22,535.85, due to which the three-day long decline had stopped. The benchmark had risen by 535.6 points, or 2.41 per cent, to 22,697.20 during trading.