Stock Market News: The direct impact of 50% tariff on Indian goods by US President Donald Trump was seen on the stock market. On Thursday, selling pressure dominated the market and major indices recorded a huge decline. The BSE Sensex closed down 706 points. At the same time, NSE Nifty 50 also slipped to 24,500. The effect of tariff pressure was the most seen on IT, Healthcare, Realty and FMCG sector.
IT stocks fall drastically
HCL Tech shares broken 3%. TCS declined by 2%. Other sector index also closed in red mark. Experts believe that American tariff is expected to affect Indian export and corporate income. This is the reason that investors sold in shares to avoid risk.
Experts say that frequent selling of foreign funds and weak global signs also weakened the notion of the market. At the same time, America’s tariff is feared to be affected by Indian exports and companies’ income.
Fall a day before
The Indian domestic market was closed on Wednesday due to the reason for Ganesh Chaturthi. But a day earlier on Tuesday, 5.41 lakh crore rupees of investors drowned due to selling pressure. The 30 -share Sensex of BSE fell at 849.37 points i.e. 1.04% to close at 80,786.54. During the trading, the Sensex fell below the level of 81,000 points.
The market capitalization of companies listed in BSE decreased to Rs 449.45 lakh crore. This indicates a reduction of Rs 5.41 lakh crore as compared to the previous trading session.
On Tuesday, the best selling was recorded in realty, pharma, banking and metal sectors. At the same time, FMCG shares remained in a slight increase with relatively strong strength. Major shares with declining: Sun Pharma, Tata Steel, Trent, Bajaj Finance, Mahindra & Mahindra, Bajaj Finserv, Reliance Industries, Axis Bank, Tech Mahindra, Adani Ports, Titan, BEL and L&T. Increased shares: Hindustan Unilever, Maruti Suzuki India, ITC, TCS and UltraTech Cement.
Also read: In front of any bullying and threat …, Maruti chairman’s big statement came on Trump’s tariff ‘Dadagiri’
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