Stock Market Horror: ‘IT Follows’ Nifty, Sensex, Haunting On D-Street As Trump’s Tariffs Spook Investors

Stock Market Crash Today: Equity benchmark indices fell in early trade on Tuesday, led by IT stocks, amid uncertainties about Trump's reciprocal tariffs.  The 30-share BSE benchmark Sensex fell 1128.97 points to 76,276 in early trading. The NSE Nifty fell 284.60 points, to 23,234.75.

From the Sensex pack, Infosys, Tata Consultancy Services, Bajaj Finance, HDFC Bank, Axis Bank, Bajaj Finserv, HCL Tech, and Maruti were among the biggest laggards.

Among the gainers, IndusInd Bank jumped nearly 5 per cent. ITC, Zomato , Power Grid, Bharti Airtel, Nestle and NTPC were also trading in the positive territory.
    
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading in the positive territory. US markets ended mostly higher on Monday.

Why Stocks Markets Are Falling Today?

President Donald Trump plans to roll out a set of reciprocal tariffs on April 2, which he says will be "Liberation Day" for the US.

The United States' reciprocal tariffs policy allows for the imposition of higher import duties on countries with which it has a trade deficit.

According to President Trump, the United States is facing unfair trade practices, as other nations charge higher tariffs on American goods. He argues that this has led to a staggering trade deficit of USD 1 trillion, negatively impacting American businesses and workers.

India-US Trade Dynamics

India and the US enjoy a sizable trade relationship in which the US is India's largest trading partner during the span of 2021-22 to 2023-24.

The US consumed 18% of India's exports and 6.22% of imports during 2023-24, leading India's bilateral trade surplus of USD 35.32 billion. This surplus, however, set Indian exports into the crosshair of increased tariffs.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,352.82 crore on Friday, according to exchange data.
 

FII/DII Tracker

Foreign institutional investors (FIIs) remained net sellers on March 28, selling shares worth Rs 4352 crore.  On the other side, domestic institutional investors (DIIs) continued to buy on second days, purchasing equities worth Rs 7646 crore on the same day.

Crude Oil

On Monday, oil prices rose around 2% to a five-week high on concerns that supplies could fall if US President Donald Trump follows through on threats to put additional taxes on Russia and possibly strike Iran.  Brent futures increased $1.11, or 1.5%, to close at $74.74 per barrel, while US West Texas Intermediate crude rose $2.12, or 3.1%, to $71.48.

Rupee vs Dollar

The Indian rupee slid 32 paise to 85.47 against the US dollar in early trade.  The dollar index, which measures the greenback's movement against a basket of six major international currencies, fell 0.14% to 104.04.

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