The Indian stock market closed with significant losses on April 4 as weak global cues weighed on sentiment. The Sensex and the Nifty fell over 1 percent, while the broader Midcap and Smallcap indices plunged more than 3 percent each.
Market sentiment was rattled after Donald Trump’s tariff salvo against more than 180 countries fuelled fears of a major global trade war that could slow economic growth worldwide.
The Sensex closed 931 points, or 1.22 percent, down at 75,364.69, while the Nifty ended with a loss of 346 points, or 1.49 percent, at 22,904.45. The BSE Midcap index plunged 3.08 percent, and the Smallcap index crashed 3.43 percent.
The Indian stock market crashed in sync with global markets on concerns over the economic impact of higher-than-anticipated US tariffs. The possibility of retaliatory measures against Trump tariffs has stoked fears of a major trade war, which could deal a severe blow to global economic growth.
"The recent implementation of higher-than-anticipated US tariffs has had a significant impact on global markets, triggering a bearish trend as investors assess the broader implications," said Vinod Nair of Geojit Investments Limited.
"The likelihood of retaliatory measures against the US has further heightened uncertainty. US bond yields and oil prices are trending downward, reflecting concerns over potential economic slowdown and increased recessionary risks," Nair said.
As many as 42 stocks ended in the red in the Nifty 50 index among which Tata Steel (down 8.43 percent), Hindalco Industries (down 8.07 percent) and ONGC (down 7.07 percent) ended as the top losers.
Shares of Bajaj Finance (up 1.69 percent), Tata Consumer (up 1.59 percent) and HDFC Bank (up 1.22 percent) closed as the top gainers in the index. Most sectoral indices ended with massive losses.
(By arrangement with livemint.com)
