Sensex drops 640 points in early trade on tariff worries
The Hindu
Equity indices slump amid Trump tariff uncertainty, with IT stocks dragging, while Asian markets trade positively.
Equity benchmark indices slumped in early trade on Tuesday (April 1, 2025) dragged by IT stocks amid uncertainty about U.S. President Donald Trump’s reciprocal tariffs.
The 30-share BSE benchmark Sensex dropped 639.13 points to 76,775.79 in early trade. The NSE Nifty declined 180.25 points to 23,339.10.
From the Sensex pack, Infosys, Tata Consultancy Services, Bajaj Finance, HDFC Bank, Axis Bank, Bajaj Finserv, HCL Tech, and Maruti were among the biggest laggards.
Among the gainers, IndusInd Bank jumped nearly 5 per cent.
Power Grid, Bharti Airtel, Mahindra & Mahindra, Adani Ports, Nestle and NTPC were also trading in the positive territory.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading in the positive territory. The U.S. markets ended mostly higher on Monday (March 31, 2025).
"Globally markets are focused on the details of Trump’s reciprocal tariffs to be announced tomorrow. The market trends after the announcements will depend on the details of the tariffs and how they will impact different countries and sectors," V.K. Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.
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