New Delhi : The Indian stock market faced a sharp downturn on Thursday after former US President Donald Trump announced a 25% tariff and additional penalties on Indian imports. The market reacted strongly to the announcement, with major indices plunging during early trade.
The BSE Sensex opened with a fall of over 750 points, while the Nifty dropped by more than 200 points. The broader market also suffered, with Small-cap and Mid-cap indices seeing significant declines.
Key sectors bore the brunt of the market panic.
- Banking stocks fell by over 300 points
- IT sector lost more than 215 points
- FMCG dropped by over 300 points
- Oil & Gas suffered the steepest decline with Nifty Oil & Gas down by 1.5%
- Pharma and IT sectors fell by nearly 1%
Stocks in PSU banks, real estate, and consumer durables were also hit hard.
Sensex Dips Below 81,000 Mark; Nifty Slips to 24,688
By 9:20 PM, the Sensex was down 500 points, trading near the 81,000 mark, while Nifty dropped 160 points to 24,688. Among the BSE Top 30, shares of 26 companies declined sharply. Notable losers included:
- Tata Motors
- Reliance Industries
- Mahindra & Mahindra
- Bharti Airtel
Only four stocks in the Top 30 posted gains, with Zomato among the top performers.
Mid-Cap, Small-Cap Stocks Take a Beating
The broader market saw:
- BSE Small-Cap Index down by over 400 points
- Nifty Small-Cap Index fell 600 points
- BSE Mid-Cap Index dropped more than 300 points
In the small-cap segment, Phase 3 Ltd suffered a 10% decline.
Market Breadth: Majority of Stocks in Red
Out of 3,085 stocks traded on the BSE,
- 2,033 stocks declined
- 887 advanced
- 165 remained flat
Nearly ₹3 Lakh Crore Investor Wealth Wiped Out
The market capitalization of BSE saw a steep fall, indicating a significant erosion in investor wealth.
- A day earlier, the market cap stood at ₹452.29 lakh crore
- As of today’s early trade, it plunged to ₹449.56 lakh crore
This marks a decline of nearly ₹3 lakh crore in a single day.
