Mumbai, March 11 (IANS). The Indian stock market opened in a red mark on Tuesday amid weak global signals. In early trade, selling was seen in IT, media and private bank sectors.
At around 9.35 am, the Sensex was trading at 73,743.43 at 73,743.43 at around 9.35 am, while the Nifty was down 104.25 points or 0.46 percent to 22,356.05.
The Nifty Bank was down 349.75 points or 0.73 percent at 47,867.05. The Nifty Midcap 100 index was trading at 47,872.30, declining 567.80 points or 1.17 percent. The Nifty Smallcap 100 index was 252.05 points or 1.66 percent to 14,946.10.
According to those who monitor the market, US President Donald Trump’s flip-flop tariff policy and uncertainty arising from it have affected the US stock markets.
He said, “Yesterday S&P 500 and Nasdaq fell by 2.6 percent and 4 percent respectively, which is Trump’s tariff and market reaction to the possibility of recession in the US by the end of the year. We have to wait and see how the situation is cured.”
An important result of the ongoing improvement in the market is that India is now performing better than the US. During the last one month, the S&P 500 declined by 7.5 percent, the Nifty has fallen by only 2.7 percent. Even more importantly, the dollar has fallen from 109.3 to 103.71 at the time of index Trump became President.
Meanwhile, the Sensex pack had IndusInd Bank, Infosys, Zomato, Tech Mahindra, HCL Tech, M&M, Tata Motors, TCS, Powergrid, NTPC and Bajaj Finance Top Loisers. Whereas, ICICI Bank, Maruti Suzuki, Sun Pharma, ITC, Adani Ports and Titan were the top gainers.
In the last trading session, Dow Jones fell 2.08 percent to close at 41,911.71. The S&P 500 index fell 2.70 percent to 5,614.56 and Nasdaq fell 4.00 percent to close at 17,468.32.
Japan, Sol, Bangkok, China, Jakarta and Hong Kong were trading in the Asian markets. Foreign institutional investors (FIIs) continued their selling on March 10 and sold shares worth Rs 485.41 crore. However, domestic institutional investors (DIIs) bought shares worth Rs 263.51 crore on the same day.
-IANS
SKT/AS
