The turmoil in the US stock market has also affected the Indian stock market. Yesterday the US stock market crashed and the Dow Jones closed down 821 points. Meanwhile, Asian markets were giving mixed global signals for India and when Sensex and Nifty opened, BSE Sensex fell by more than 700 points. Apart from this, NSE Nifty also fell and was trading below 25,600. Talking about the stocks which suffered the most, tech stocks were most affected by the market decline, in which stocks like Infosys, TCS, HCL and Tech Mahindra fell.
Sudden fall in Sensex-Nifty
When the stock market opened on Tuesday, Sensex and Nifty fell heavily. The 30-share Bombay Stock Exchange Sensex opened at 83,052, down from its previous close of 83,294.66. However, within a few minutes the Sensex slipped by about 717 points and was trading at 83,577.
The Nifty index of the National Stock Exchange also moved along with the Sensex. Nifty-50 opened at 25,641, down from its previous closing of 25,713. Then, it suddenly started falling sharply and fell by more than 200 points to 25,507.
Amidst this sudden sharp fall in the share market, among the stocks which were seen falling like a pack of cards, HCL Tech Share (4%), Eternal Share (3.90%), Infosys Share (3.50%), Tech Mahindra Share (3.20%), TCS Share (3.10%), Bharti Airtel Share (3.05%) were the leading ones in the large-cap category of BSE. Especially the stocks of IT sector companies crashed like Sensex and Nifty (IT Stock Crash).
Donald Trump’s new tariff attack has once again increased tension in the world. The US stock market itself seemed scared by the tough stance of the US President. After the fall in the US market on Monday, India was getting mixed global signals on Tuesday. In fact, while Japan’s Nikkei index was trading in the green zone, Hong Kong’s Hang Seng, Germany and UK markets were seen trading in the red zone.
This is also a major reason for the decline in the market.
While weak global signals, coupled with increased global tension due to US tariffs, have put pressure on Sensex and Nifty, if we look at other reasons behind this sudden sharp fall in the Indian stock market, then heavy selling in domestic IT stocks can also be considered a major reason, because IT stocks have crashed the most amid the market crash.
