Sensex falls 300 points, Nifty slides below 22,500 as Trump’s tariff move keeps pressure on
Among the 30 Sensex stocks, Sun Pharma fell the most upon opening by -2.19 per cent, trading at ₹1651.80.
The stock market slipped into the red on Wednesday, reversing Tuesday’s brief rebound as pressure from Monday’s sharp crash, sparked by reciprocal tariffs announced by US President Donald Trump, continued to weigh on investor sentiment.
At 9.15am, the benchmark BSE Sensex was down by 300 points , reaching 74,008. The broader NSE Nifty opened 75.55 points down or in the red, reaching 22,460.30.
Among the 30 Sensex stocks, Sun Pharma fell the most upon opening by -2.19 per cent, trading at ₹1651.80. This was followed by Tech Mahindra, which was down -2.25 per cent, trading at ₹ 1285.35, and Infosysis, which was down by -2.34 per cent, trading at ₹1395.85
Along with largecaps, midcaps and smallcaps also declined. The Nifty Midcap 100 index dropped 436 points or 0.87 per cent to 49,402, while the Nifty Smallcap 100 index fell 150 points or 0.98 per cent to 15,238.
On the sectoral front, auto, FMCG, and consumption sectors saw the most gains, while IT, PSU Bank, pharma, metal, realty, infra, and commodities were among the major laggards.
Major Asian markets witnessed selling pressure, with Tokyo, Hong Kong, and Seoul all closing in the red. The US markets also ended lower on Tuesday amid growing concerns about a potential recession.
In a significant development, the US announced it would impose an additional 50 per cent tariff on imports from China, following China’s retaliatory 34 per cent tariffs last week.
This new 50 per cent tariff on Chinese imports will push the total US tariff rate on goods from China to 104 per cent. President Trump's aggressive tariff policies have sparked recession fears and disrupted a global trade system that has existed for decades.
Earlier on Monday, Indian share markets experienced a sharp crash as fears of a global trade war and a growing recession in the US triggered a stock market rout on Wall Street and other Asian markets.
The benchmark BSE Sensex plummeted nearly 5 per cent, opening 3,100 points lower, while the Nifty also saw a sharp decline, opening 1,200 points lower. This marked the biggest opening fall in Indian markets since the onset of the Covid-19 pandemic.
