Markets decline in early trade, tracking weak Asian peers on Trump's tariffs announcement

Equity indices decline due to US reciprocal tariffs, impacting Indian markets; Sensex and Nifty fall in early trade.

Equity benchmark indices Sensex and Nifty declined in early trade on Thursday (April 3, 2025) dragged down by IT stocks, weak trends from Asian markets after the U.S. has announced reciprocal tariffs on about 60 countries.

The U.S. has announced 27% reciprocal tariffs on India, saying New Delhi imposes high import duties on American goods, as the Donald Trump administration aims to reduce the country's trade deficit and boost manufacturing.

The move is expected to impact India's exports to the U.S. However, experts say that India is better-placed than its competitors, who also face increased levies.

The 30-share BSE Sensex decreased 378.60 points or 0.49% to 76,238.84 in the morning trade. In the session, it depreciated by 809.89 points or 1.05% to hit an intraday low of 75,807.55.

The broader NSE Nifty slipped 80.60 points or 0.35% to 23,251.75.

From the Sensex pack, Tata Consultancy Services, Infosys, Tech Mahindra, HCL Technologies, Tata Motors, Adani Ports, Bharti Airtel, Reliance Industries and Maruti Suzuki, Zomato and Kotak Mahindra Bank were the major laggards.

Sun Pharmaceuticals, NTPC, Titan, PowerGrid, Bajaj Finance, UltraTech Cement, Asian Paints, IndusInd Bank, and Larsen & Toubro were among the gainers. The BSE midcap gauge depreciated 0.41%, and the smallcap index dipped 0.08%.