President Trump’s reciprocal tariffs send shockwaves through Dalal Street, with Sensex plunging over 1,200 points and Nifty slipping below 23,200; tech and banking stocks lead the fall.
April 1, 2025: The Indian stock market witnessed a steep fall on Tuesday amid mounting global anxiety over US President Donald Trump’s proposed reciprocal tariffs, set to be rolled out on April 2—dubbed as “Liberation Day” for American trade policy.
Also Read: Gold Prices Hit ₹90,830— New All-Time High Amid Trump Tariff Fears & Global Uncertainty
The BSE Sensex crashed 1,233.95 points to 76,180.97 in late morning trade, while the NSE Nifty dropped 321.5 points to 23,197.85, weighed down heavily by blue-chip stocks across banking and IT sectors.
Top Losers:
- Bajaj Finserv
- HDFC Bank
- Bajaj Finance
- Infosys
- Axis Bank
- HCL Tech
- Titan
- TCS
- Tech Mahindra
- Sun Pharma
Notable Gainers:
- IndusInd Bank rose nearly 5%
- Zomato traded in the green
Also Read: Wall Street Falls as Trump’s ‘Liberation Day’ Sparks Tariff Fears; Nasdaq Drops Over 1.7%
Despite a weak performance in Indian markets, most Asian indices including Tokyo, Seoul, Shanghai, and Hong Kong traded in positive territory. US markets had ended mostly higher on Monday, ahead of the tariff rollout.
According to VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, “Markets are keenly watching Trump’s reciprocal tariffs. The direction of global equities post-April 2 will largely depend on the fine print of the US tariffs and their spillover impact.”
He added that while India outperformed global markets in March with a 6.3% gain, sustaining the rally would hinge on how the tariff situation evolves.
On Friday (March 29), FIIs offloaded equities worth ₹4,352.82 crore, reflecting caution ahead of the tariff announcement.
Meanwhile, global oil prices remained steady, with Brent crude up 0.20% to $74.88 per barrel.
The stock markets were closed on Monday for Eid-Ul-Fitr.
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