For a better experience, Read this story in our App
TO ENJOY ADDITIONAL BENEFITS
Connect With Us
Get BusinessLine apps on
Market breadth remained positive despite the headline index declines, with 2,550 stocks advancing against 1,224 declining on the BSE
Indian markets traded lower Thursday following US President Trump’s sweeping tariff announcements, though they showed signs of recovery from morning lows. The Sensex was down 0.40 per cent at 76,311.52 points while the Nifty fell 0.32 per cent to 23,257.50 points as of 12:45 PM IST, paring some early losses after sharp declines at the open.
Trump’s “Liberation Day” tariffs, set to begin April 5 with a blanket 10 per cent duty on all US imports, followed by country-specific tariffs starting April 9, have rattled global markets. India faces a 26 per cent tariff rate, while China (34 per cent), Vietnam (46 per cent), Taiwan (32 per cent), and the EU (20 per cent) will see varying levels of impact.
The technology sector bore the brunt of selling pressure as companies with significant US exposure saw steep declines. Tech Mahindra led the losers, dropping 4.29 per cent, followed by Infosys (-4.02 per cent), TCS (-3.91 per cent), HCL Technologies (-3.44 per cent), and Wipro (-2.94 per cent).
Pharmaceutical stocks bucked the downward trend, emerging as top gainers. Sun Pharma rose 3.79 per cent, while Cipla gained 3.09 per cent. Power Grid Corporation advanced 3.31 per cent, NTPC added 2.32 per cent, and Shriram Finance climbed 2.30 per cent.
Banking stocks showed relative resilience, with the Nifty Bank index trading 0.16 per cent higher at 51,428.05.
Market breadth remained positive despite the headline index declines, with 2,550 stocks advancing against 1,224 declining on the BSE. Fifty-two stocks reached 52-week highs, while 43 touched 52-week lows. The Nifty Midcap 100 index fell 0.46 per cent to 51,816.10.
Analysts expect heightened volatility in the days ahead as countries consider retaliatory measures that could escalate trade tensions. Some nations may attempt to negotiate new deals with the US administration, though uncertainty will likely dominate market sentiment in the near term.
Global markets are expected to feel a more profound impact in upcoming sessions as many were closed before the White House released detailed tariff plans. Asian indices like the Nikkei and Hang Seng were already trading sharply lower in response to the news.
Safe-haven assets continued their upward trajectory, with gold maintaining near-record levels after hitting $3,150 per ounce earlier in the day.
Published on April 3, 2025
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.