Indian markets, including the Sensex, dropped significantly on Tuesday as worries over US trade policy and weak domestic earnings dampened investor confidence.
Sensex, Nifty Slide on US Tariff Hike and Weak Earnings
By 1:30 pm, the Nifty 50 had fallen by 339 points, while the BSE Sensex dropped by 1,047 points, reflecting a sharp decline in investor sentiment. This market slump was driven by concerns about global trade tensions, particularly following the announcement from the US. All 13 major sectors saw a decline, with smallcaps and midcaps experiencing notable losses of 2.5% and 2%, respectively. The broader market weakness was evident as nearly 300 Nifty stocks hit their 52-week lows, and more than 400 Sensex stocks touched their yearly lows, signaling widespread losses across sectors.
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Close to 300 Nifty stocks reached their 52-week lows, while more than 400 stocks hit their yearly lows. On Monday, Trump increased tariffs on steel and aluminum imports to 25% “without exceptions or exemptions” and stated that he would reveal plans to impose reciprocal tariffs on several countries within the next two days.
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