Markets slump in early trade, tracking weak Asian peers amid tariffs worries
The Hindu
Equity markets tumble as Sensex and Nifty drop sharply amid global uncertainty and Trump's tariff threats.
Equity benchmark indices Sensex and Nifty tumbled in early trade on Monday (February 3, 2025) tracking weak Asian markets amid concerns over US President Donald Trump imposing tariffs on some of its trading partners.
The 30-share BSE benchmark Sensex tumbled 731.91 points to 76,774.05 in early trade. The NSE Nifty slumped 243 points to 23,239.15.
From the 30-share blue-chip pack, Larsen & Toubro, NTPC, Tata Steel, Power Grid, Tata Motors, Reliance Industries, ICICI Bank and Tata Consultancy Services were among the major laggards.
Titan, Maruti, Nestle and Bajaj Finserv were among the gainers.
In Asian markets, Seoul, Tokyo, and Hong Kong were trading sharply lower.
U.S. markets ended lower on Friday.
"Despite an excellent Budget the market will be under pressure from the Trump tariffs and the heightened global uncertainty these 'initial round of tariffs' has triggered. Now we don’t know how this will pan out. For now, India is not affected. Therefore, the impact on the Indian market will be less.
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