The stock market is seeing a decline today. The Sensex opened 258 points to 81,377. The Nifty fell 68 points to open at 24,899. Bank Nifty fell 140 points to open at 54,999. The rupee opened at 87.59 as compared to 87.60. The fear of Trump’s tariff notification showed so much in the market that almost all the sectors went into the red mark. Today only light shopping is being seen in FMCG sector. At the same time, shopping is also being seen in Pharma, IT and Realty sectors. The Nifty Pharma Index has fallen by more than one per cent.
Tariff became the villain of the market
Tariff War between the US and India took a big turn on Tuesday. The US has issued a notification to impose 25 per cent of additional tariffs on imported goods from India, which will make the total tariff to 50 per cent. This tariff will be applicable from Wednesday. This decision may directly affect Indian small businessmen and MSME sector. However, Prime Minister Narendra Modi has made it clear that no matter how much pressure comes, small traders and farmers will not be allowed to suffer losses.
Turns in the global market
Global markets are also going through a period of ups and downs. The gift Nifty is trading around 25950 by falling 50 points. Dow futures look stable, while Nikkei has fallen 400 points. Profits in the US markets also dominated. The Dow fell 350 points to close at the lowest level of the day, while Nasdaq closed down by 50 points. Crude oil prices in the commodity market rose by 1.5 percent to the three -week high of $ 68 per barrel. Gold is close to $ 3400, while silver fell by one percent to close at $ 38.5.
FIIs are withdrawing money fast
Foreign investors (FIIs) on Tuesday made a net selling of Rs 1400 crore including cash, index and share futures. On the other hand, domestic funds started shopping again after one day selling and bought shares worth Rs 3200 crore. Today, after the market is closed, there will be changes in MSCI India Standard Index. Swiggy, Hitachi Energy, Wari Energy and Vishal Mega Mart will include it, while thermax and gold BLW will remain out of it. This step will see a big stir in the shares of these companies. The government has appointed advisors to sell 5-5 percent stake in four public sector banks UCO Bank, Central Bank, Punjab and Sindh Bank and IOB. This step will further speed the government’s disinvestment scheme.
IPO market may stir
There is going to be a stir on the IPO and listing front today. Shree will be the listing of Shipping, Vikram Solar, Gem Aromatics and Patel Retail. At the same time, the IPO of Vikran Engineering will also open, whose price band has been kept at Rs 92 to 97. Sai Life Sciences is also expected to have a block deal of Rs 2640 crore today. It is reported that TPG may sell its 14% stake in Asia Company at a floor price of Rs 860.
Today is also a big day for the auto sector. Prime Minister Modi will flag off Maruti Suzuki’s first global electric car “E-Vitara”. The company plans to export it to more than 100 countries including Europe and Japan. The impact of the festive season is also visible on the market. Special programs are being run on channels on the occasion of Ganesh Chaturthi. Show of experts like “Vighnaharta Share” and “Market Friend Ganesha” are connecting investors with the energy and market moves.
