The stock market started this week in the red, registering a decline on the very first day. Donald Trump’s announcement of imposing 100% tariffs on China had an impact on both Asian and Indian markets. The Bombay Stock Exchange’s 30-share Sensex fell by more than 400 points within minutes of opening, while the National Stock Exchange’s Nifty was also trading down by nearly 120 points. Shares ranging from Tata Motors to Go-Digit fell the most in early trade.
Bad signals were coming from abroad
Indications of a bad start for the stock market were already visible from foreign markets. In fact, when Asian markets opened on Monday after Trump announced imposing 100% tariffs on China, markets from Japan to Hong Kong and South Korea crashed. In early trade, Nikkei rose 491.64 points to 48,088.80, Hong Kong’s Hang Seng fell 534.33 points to 25,756 and South Korea’s Kospi fell 38.31 points to 3,572.29. Other Asian markets also saw steep declines.
Heavy fall in indices as soon as they opened
As soon as the stock market opened on Monday, both the indices saw a rise and then continued to fall. BSE Sensex opened in the red zone, falling from its previous closing level of 82,500.82 and settled at 82,049 after opening. Similarly, NSE Nifty 50 also opened in the red. The index opened at 25,177, falling from its previous close of 25,285.35 and then fell to 25,152.
These 10 stocks fell the most
Among the biggest fallers, Tata Motors (1.80%) and Infosys (1.20%) in BSE’s large-cap category were trading with losses. Among mid-cap companies, Keynes shares (3.68%), Tata Com (2.40%), Patanjali shares (1.90%) and Go-Digit shares (1.87%) were trading with losses. Whereas, in the small-cap category, BLS shares (11.93%), BLSE (7%), Reliance Power (5.02%) and TIMEX shares (3.12%) were trading with losses. However, despite the fall in the market, shares of companies like Aarti Industries, Unomindah, Glenmark Pharma, MRF and Muthoot Finance were trading with gains.