Indian stock markets plunge as US tariff hike, weak earnings dampen sentiment
PTC Web Desk: Indian equity markets witnessed a sharp decline on Tuesday, as escalating concerns over US trade policies and disappointing domestic earnings weighed heavily on investor sentiment.
The Nifty 50 plummeted 339 points, while the BSE Sensex nosedived 1,047 points by 1.30 pm. All 13 major sectors were in the red, with small-cap and mid-cap indices tumbling 2.5% and 2%, respectively.
Market-wide selling pressure dragged down key stocks, with Zomato, Power Grid Corporation of India, and Tata Motors emerging as top losers on the Sensex. Meanwhile, Eicher Motors, Apollo Hospitals, and Shriram Finance led the declines on the Nifty 50.
Adding to the bearish sentiment, nearly 300 Nifty stocks and over 400 Sensex stocks slumped to their 52-week lows, signaling widespread market distress.
Investor concerns deepened following former US President Donald Trump’s decision to raise steel and aluminum tariffs to 25%, with no exemptions. Trump also indicated plans to impose reciprocal tariffs on multiple nations, further unsettling global trade outlooks.
With rising global uncertainties and weak domestic earnings, market participants are bracing for continued volatility in the near term. Analysts caution that further escalations in trade tensions could exacerbate selling pressure in Indian equities.
- With inputs from agencies
