- विज्ञापन -
Mumbai: Indian equity indices opened lower on Thursday, mirroring a sharp global market sell-off triggered by US President Donald Trump’s announcement of reciprocal tariffs.
By around 9:20 am, the Sensex had dropped over more than 470 to 76,197 points while the Nifty declined 105 points to 23,227. In early trading hour, midcap and smallcaps were trading with minor gains compared to largecap. Nifty midcap 100 index was up 125 points or 0.24 per cent at 52,183 and Nifty smallcap 100 index was up 121 points or 0.75 per cent at 16,283.
On the sectoral front, Auto, IT, PSU bank, FMCG, metal and media were in the top laggars. Pharma, realty and energy were major gainers. In the Sensex pack, Infosys, HCL Tech, TCS, Tech Mahindra, Tata Motors, M&M, Bharti Airtel, Reliance, HDFC Bank, Maruti Suzuki and Kotak Mahindra Bank were major losers.
Sun Pharma, Power Grid, NTPC, Bajaj Finance, Bajaj Finserv, Titan and UltraTech cement were major gainers.
Vikram Kasat, Head-Advisory, PL Capital-Prabhudas Lilladher, said, “Large Tariff shocks threatens US and global recession If these policies, if sustained – would likely push the US and Global Economy into recession this year.”
“In very general terms, Canada and Mexico have got off lightly, while those in Asia, particularly China and Vietnam, have been hit hard. The European Union and Japan sit somewhere in the middle. Just the hope – no one retaliates Since If you retaliate, there will be escalation. If you don’t retaliate, this is the high water mark,” he added.
Most Asian markets witnessed heavy selling due to US tariffs. Tokyo, Shanghai, Hong Kong, Bangkok and Seoul were in the red. The US markets closed in the green on Wednesday’s trading session. On the institutional front, foreign institutional investors (FIIs) extended their selling streak for the third consecutive session on April 2, offloading equities worth Rs 1,538 crore.
In contrast, domestic institutional investors (DIIs) remained net buyers for the fourth consecutive day, purchasing equities worth Rs 2,800 crore.
Oil Impact
Trump’s tariffs could impact India by influencing crude oil prices, which directly affect inflation, the fical deficit, and market sentiment. If trade disruptions lower gobal demand, prices may fall, benefiting oil-importing countries like India. However, if the tariffs create supply constraints, oil prices could rise, increasing India’s import bill and widening the fiscal deficit. Higher fuel costs would push inflation up, potentially delaying RBI rate cuts and impacting investor cinfidence.
