Sensex, Nifty slump in early trade on global trade war fears
The Hindu
Sensex and Nifty plummet due to Trump's tariffs, global trade war fears, and foreign fund outflows. Market uncertainty prevails.
Benchmark equity indices Sensex and Nifty slumped in initial trade on Friday (April 4, 2025) owing to heavy selling in metal, oil & gas shares as U.S. President Donald Trump's sweeping tariff salvo reignited the fears of global trade war. Besides, foreign fund outflows have also dented the investor sentiment.
The 30-share BSE Sensex slumped 591.05 points or 0.77% to 75,704.31 in the morning trade. The broader NSE Nifty declined 202.55 points or 0.87% to 23,047.55.
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From the Sensex pack, Tata Motors, Tata Steel, Larsen & Toubro, Reliance Industries, Maruti Suzuki India, IndusInd Bank, Infosys, HCL Technologies, NTPC, Tech Mahindra, Sun Pharmaceutical Industries, and Adani Ports were among the laggards.
In contrast, HDFC Bank, Bajaj Finance, Bharti Airtel, Mahindra & Mahindra, Kotak Mahindra Bank, ICICI Bank, Nestle India and Hindustan Unilever were the gainers.
"Markets are going through heightened uncertainty, which is likely to last some time. A trade war has been triggered by Donald Trump and retaliatory tariffs from China, EU and others are on the cards. This will only extend the period of uncertainty and confusion in the market," V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.
Vijayakumar further, said "It appears that contraction in global trade and decline in global growth are inevitable in the present context. Decline in global growth will impact India’s growth, too, even though we might do better than other large economies."
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