New Delhi, April 4 – The Indian stock market opened on a weak note today, reacting sharply to the global tremors triggered by former U.S. President Donald Trump’s new tariff policy, which has sparked recession fears across global financial markets. Both Sensex and Nifty dropped significantly during early trade, with broad-based selling pressure hitting major indices and investor sentiment.
Markets Open Lower, Selling Intensifies After Early Buying
The BSE Sensex opened 135.27 points lower at 76,160.09, and though it briefly rose to 76,258.12 amid initial buying interest, this rally was short-lived. As of 10:15 AM, Sensex had plunged 794.99 points, or 1.04%, to 75,500.37.
Similarly, the NSE Nifty began trading at 23,190.40, down 59.70 points, and saw a slight recovery to 23,214.70. However, selling across sectors pushed the index down by 308.60 points, or 1.33%, to 22,941.50 by 10:15 AM.
Sector Performance: Metal, Auto Stocks Take a Hit
While some heavyweights like HDFC Bank, Tata Consumer Products, Bajaj Finance, Hindustan Unilever, and Nestle showed resilience with gains between 0.59% and 1.98%, the overall sentiment remained weak.
Stocks that faced sharp declines included:
ONGC: down 6.27%
Hindalco Industries: down 5.86%
Cipla: down 5.64%
Tata Motors: down 5.35%
Tata Steel: down 5.10%
Broad Market View: Bears Dominate the Session
As of the latest update, 2,404 stocks were actively traded. Of these, only 444 were in the green, while 1,960 stocks traded in the red, indicating the extent of the selloff. In the Sensex, 24 out of 30 stocks were down, while only 6 stocks managed to stay in positive territory. On the Nifty, just 7 stocks were gaining while 43 were in decline.
Market Context: Global Factors at Play
The selloff follows a massive downturn in U.S. markets on Thursday, where the S&P 500 lost $2.4 trillion in market value following Trump’s proposal for a 10% tariff on most U.S. imports and significantly higher tariffs on goods from key trade partners. The move has raised fears of a global economic slowdown, prompting widespread investor caution.
Previous Close
On Thursday, the Sensex closed down 322.08 points (0.42%) at 76,295.36, while the Nifty slipped 82.25 points (0.35%) to end at 23,250.10.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
