Share Market Opening Bell: Impact of Trump’s tariff dominates the stock market, Sensex-Nifty open in the red
New Delhi| The domestic stock market opened in the red for the second consecutive day on Friday amid worldwide uproar over US tariffs. Sensex fell 509.54 points to 75,785.82 in early trade. Similarly, Nifty fell by 146.05 points to reach 23,104.05 points. In similar early trade, the rupee rose by 31 paise against the US dollar to reach $84.99. Earlier yesterday also a huge fall was seen in Sensex and Nifty. Sensex had opened at 805.58 points, down 1.05 per cent, at 75,811.86 points and Nifty had opened at 23,150.30 points, down 182.05 points, or 0.78 per cent.
Market decline due to fears of global trade war
Trump’s sweeping tariff announcement led to heavy selling in metal, oil and gas stocks due to fears of a global trade war. Due to this, benchmark equity indices Sensex and Nifty declined in early trade on Friday. Apart from this, investor sentiment has also been affected due to the exit of foreign funds.
Such was the market movement
The 30-share BSE Sensex fell 591.05 points, or 0.77 per cent, to 75,704.31 points in morning trade. NSE Nifty fell by 202.55 points or 0.87 per cent to 23,047.55 points.
Who benefits and who suffers?
Tata Motors, Tata Steel, Larsen & Toubro, Reliance Industries, Maruti Suzuki India, IndusInd Bank, Infosys, HCL Technologies, NTPC, Tech Mahindra, Sun Pharmaceutical Industries and Adani Ports were seen lagging behind in the Sensex. In contrast, HDFC Bank, Bajaj Finance, Bharti Airtel, Mahindra & Mahindra, Kotak Mahindra Bank, ICICI Bank, Nestle India and Hindustan Unilever continued to trade profitably.
Condition of Asian and American markets
Tokyo’s Nikkei was trading down more than three percent in Asian markets. Seoul’s Kospi went down about two percent. Stock markets in Shanghai and Hong Kong remained closed on the occasion of Qingming festival. The U.S. saw its biggest decline since 2020.
What was the condition of the stock market yesterday?
Meanwhile, foreign institutional investors (FIIs) sold shares worth Rs 2,806 crore on Thursday, while domestic institutional investors (DIIs) bought shares worth Rs 221.47 crore on a net basis. Yesterday, the 30-share BSE Sensex closed at 76,295.36 points, down 322.08 points, while the NSE Nifty closed at 23,250.10 points, down 82.25 points.
