Mumbai, April 1 — Indian equity markets plunged sharply in early trade on Tuesday, weighed down by losses in IT and banking stocks amid global uncertainty surrounding former U.S. President Donald Trump's proposed reciprocal tariffs.
Key laggards in the Sensex pack included Infosys, Tata Consultancy Services, Bajaj Finance, HDFC Bank, Axis Bank, Bajaj Finserv, HCL Tech, and Maruti Suzuki.
Investor sentiment globally is being shaped by Trump’s planned announcement of reciprocal tariffs on April 2, which he dubbed “Liberation Day” for the U.S. The move has triggered uncertainty across markets as countries assess potential sectoral impacts.
However, FIIs reversed their stance on Friday, selling equities worth ₹4,352.82 crore, as per exchange data.
Indian stock markets remained closed on Monday in observance of Eid-Ul-Fitr.
Last Friday, the Sensex had closed 191.51 points lower at 77,414.92, while the Nifty fell 72.60 points to 23,519.35.
As markets brace for Trump’s tariff reveal, volatility is expected to remain high in the short term, with sectoral rotation and global cues likely to dictate further movement.
Sensex Drops Over 600 Points; Nifty Below 23,350
The BSE Sensex dropped 639.13 points to 76,775.79, while the NSE Nifty slid 180.25 points to 23,339.10 during early hours of trading. The sharp decline was led by heavyweights in the technology and financial sectors.Key laggards in the Sensex pack included Infosys, Tata Consultancy Services, Bajaj Finance, HDFC Bank, Axis Bank, Bajaj Finserv, HCL Tech, and Maruti Suzuki.
IndusInd Bank Leads Gainers; Select Stocks Show Resilience
Despite the broader market weakness, IndusInd Bank surged nearly 5%, emerging as the top performer. Other notable gainers were Power Grid, Bharti Airtel, Mahindra & Mahindra, Adani Ports, Nestle, and NTPC, which managed to trade in positive territory.Global Markets Watchful Ahead of Tariff Rollout
Asian markets — including Seoul, Tokyo, Shanghai, and Hong Kong — traded in the green, while U.S. indices closed mostly higher on Monday.Investor sentiment globally is being shaped by Trump’s planned announcement of reciprocal tariffs on April 2, which he dubbed “Liberation Day” for the U.S. The move has triggered uncertainty across markets as countries assess potential sectoral impacts.
He noted that India outperformed global markets in March, posting a 6.3% return, thanks to Foreign Institutional Investors (FIIs) turning net buyers and a wave of short covering.“Globally, markets are focused on the details of Trump’s reciprocal tariffs to be announced tomorrow,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. “The trends post-announcement will depend on the specifics of the tariffs and their implications on different countries and sectors.”
However, FIIs reversed their stance on Friday, selling equities worth ₹4,352.82 crore, as per exchange data.
Oil Prices Surge; Markets Await Key Trigger
Meanwhile, Brent crude futures climbed 1.51% to USD 74.74 a barrel, adding another layer of complexity to market dynamics.Indian stock markets remained closed on Monday in observance of Eid-Ul-Fitr.
Last Friday, the Sensex had closed 191.51 points lower at 77,414.92, while the Nifty fell 72.60 points to 23,519.35.
As markets brace for Trump’s tariff reveal, volatility is expected to remain high in the short term, with sectoral rotation and global cues likely to dictate further movement.
Last updated by a enewsx: