Markets decline in early trade tracking weak Asian peers

Equity indices drop amid trade tensions, awaiting RBI policy decision; markets brace for heightened volatility post-tariff escalation.

Benchmark equity indices slumped in early trade on Wednesday (April 9, 2025) after a day’s breather in line with losses in Asian markets amid escalating trade tensions as domestic investors eye the Reserve Bank’s monetary policy decision to be announced later in the day.

The 30-share BSE benchmark Sensex dropped 554.02 points to 73,673.06 in early trade. The NSE Nifty declined 178.85 points to 22,357.

“With a whopping 104% tariffs on China likely to kick in today, there is blood on the streets. Uncertainty reigns supreme. How global trade and the global economy evolve from this chaos remains to be seen,” V. K. Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.

Also read: Trump’s global tariffs live updates

Mr. Vijayakumar further said two things are clear: India will be one of the large economies least impacted by this Trump shake-out.

“Our domestic consumption segments are resilient. The 25 bps cut in policy rates expected in the monetary policy announcement today can give a further monetary stimulus to the economy. The crash in crude is a big positive for the Indian economy. Of course, a global recession, or worse, stagflation, can do a lot of damage,” he added.

From the Sensex firms, Tata Steel, Tech Mahindra, Infosys, HCL Tech, Tata Consultancy Services, Sun Pharma, Larsen & Toubro and NTPC were among the biggest laggards.