Donald Trump’s tariff announcement caused a stir in the market: Sensex broke more than 540 points
The direct impact of the announcement of 25% tariff on all products imported by US President Donald Trump on India was visible on the Indian stock market. The market saw a major decline on the first trading day of the week, where the Sensex broke more than 540 points and the Nifty also fell more than 160 points. There is an atmosphere of concern among investors about tariffs, due to which there is heavy selling in the market.
The BSE Sensex was trading at 9.28 am at 9:28 am, trading at a level of 80,939.81, 542.05 points. Similarly, the NSE Nifty also broke 160.65 points and trading at the level of 24694.40. As soon as the market opened on 31 July, investors drowned more than Rs 4.42 lakh crore.
Top Loser and Gainer Stocks
Initial of the session, the Nifty’s leading loose (losses) stocks include Tata Motors, Dr. Reddy’s Labs, Reliance Industries, Bharti Airtel and Titan Company. At the same time, some stocks have also seen a slight increase. Jio Financial, SBI Life Insurance and Tata Steel emerged in the Nifty’s highest profit stocks. Only 5 of the 30 shares in the Sensex are trading in the green mark. The highest growth among them is seen in Eternal, Powergrid and Tata Steel. On the other hand, the biggest decline has been recorded in Bharti Airtel.
India will get a shock!
PTI news, Mubik, Geojit Investments Limited’s main investment strategist V.K. Vijaykumar said that 25 percent tariff on India and potential fine for energy and defense purchases from Russia is bad news for Indian exports and economy. He said that 25 percent of tariffs imposed on India, as well as potential additional fine for energy and defense procurement from Russia, are a very negative sign for Indian exports and will also affect India’s economic growth rate short -term.
What is the trend in Asian markets
In the Asian markets, South Korea’s Kospi, Shanghai’s SSE Composite Index and Hong Kong’s Hong Seng were trading with a decline, while Japan’s Nikkei 225 index was in a positive scope. The US markets mostly closed down on Wednesday. On the other hand, global oil benchmark brant crude fell 0.19 percent to $ 73.10 per barrel.
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