The markets continue to bleed in early trading hours, extending their bearish trend. The Sensex slipped 545.09 points or 0.71% to 75,748.51, while the Nifty dropped 156.40 points or 0.68% to 22,915.40.
Indian stock markets opened on a weak note for the sixth consecutive session on Wednesday, with both the Sensex and Nifty slipping into the red amid bearish global cues. The NSE Nifty 50 declined by 28.95 points or 0.13% to 23,042.85, while the BSE Sensex dropped 105.36 points or 0.14% at 76,188.24 the opening bell.
GIFT Nifty had earlier indicated a tepid start for Indian indices, reflecting cautious investor sentiment.
Sectoral Performance
The banking sector saw early pressure, with the Nifty Bank index falling 61.75 points to 49,34.65. The midcap segment also struggled, as the Nifty Midcap 100 lost 238.80 points or 0.47% to 50,649.15.
Similarly, the Nifty Midcap 50 slipped 50.40 points or 0.35%, while the Nifty Smallcap 50 declined 34.15 points to trade at 7,712.05.
“Trump’s tariff tantrums have been impacting the markets for the last several days. Trump moving away from targeting specific countries like Mexico, Canada and to a lesser extent China, and moving to import tariffs on steel and aluminium on all countries, has aggravated the concerns. The European Union’s declaration that they will retaliate with counter tariffs has raised the probability of a full blown trade war. How this will pan out remains to be seen,” said Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
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“It is important to understand that President Trump, however powerful he might be, cannot manipulate the laws of economics. When higher tariffs raise the inflation in the US and the Fed responds hawkishly, the US stock market will crash. This will restrain Trump. But it will take some time. Meanwhile, the drama and the volatility in the market will continue,” he added.
Market recap: Tuesday’s performance
Indian stock markets ended sharply lower on Tuesday as weak global cues and continuous foreign outflows dampened investor sentiment. The BSE Sensex plunged 1,016.55 points or 1.31%, closing at 76,295.25, while the Nifty50 dropped 309.80 points or 1.32%, settling at 23,016.55.
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