Indian Share Market Plunges Amid Global Trade War Fears
The Indian stock market continued its downward spiral on Friday, with the BSE Sensex today dropping 509.54 points to 75,785.82 in early trade, while the Nifty 50 slipped 146.05 points to 23,104.05. By mid-morning, the Sensex share price slumped further by 591.05 points (0.77%) to 75,704.31, and the Nifty today declined 202.55 points (0.87%) to 23,047.55. This comes as markets reel from the effects of reciprocal tariffs imposed by US President Donald Trump, triggering a trade war with retaliatory measures looming from China, the EU, and others.
Major laggards in the Sensex pack included Tata Motors, Tata Steel, Larsen & Toubro, Reliance Industries, Maruti Suzuki India, IndusInd Bank, Infosys, HCL Technologies, NTPC, Tech Mahindra, Sun Pharmaceutical Industries, and Adani Ports. Notably, TCS share price and Coforge share price also faced pressure amid the market today’s uncertainty. “Markets are grappling with heightened uncertainty likely to persist due to Trump’s tariffs and global retaliation,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Trump’s 27% tariff on Indian imports—lower than 36% on Thailand and 32% on Indonesia—has hit Asian peers hard. Tokyo’s Nikkei 225 fell 2.6% to 33,818.18, Korea’s Kospi dropped 0.8% to 2,467.14, and Australia’s S&P/ASX 200 shed 1.9% to 7,713.60. Wall Street saw its worst day since 2020, with the S&P 500 sinking 4.8% to 5,396.52, the Dow Jones falling 4% to 40,545.93, and the Nasdaq tumbling 6% to 16,550.61. Gift Nifty today signals more volatility ahead for the Nifty50 and the broader share market.
