Indian stock markets fall for second consecutive day amid jitters over US tariffs

MUMBAI: Indian stock markets on Tuesday ended lower for the second consecutive trading session, exhibiting a situation of jitters due to the US tariffs scheduled on April 2.

At the end of the trading session today, BSE Sensex tumbled 1,390.41 points or 1.80 per cent, while the Nifty 50 at the National stock exchange was in the red territory at 23,165.70, declining 353.65 points, or 1.50 per cent.

The Indian stock markets saw a volatile day today as both the benchmarks tumbled over 1.50 per cent, ending in the red.

Market experts say US Tariffs, to be announced on April 2, are heavily impacting the investors’ sentiments.

Ajay Bagga, a market and banking expert, said that the uncertainty is hitting Indian markets today as the “T-Day” looms, when the US announces tariffs on various countries and sectors.

Experts stated that the Trump tariff announcement on April 2 is a major event now. However, the markets have discounted the impact, but the reality will seem worse initially and then improve as concessions and exclusions are announced.

Observing the markets, another expert, Akshay Chinchalkar, Head of Research, Axis Securities, said, “Reciprocal tariffs may be watered down but they are still coming, and that’s causing plenty of volatility. The exact extent of tariffs will not be known until tomorrow, so large players lightening up positions ahead of the final announcements could be driving the wild swings being witnessed today, so far at least.”

Meanwhile, Sundar Kewat, Technical and Derivatives Analyst, Ashika Institutional Equity, said, “The decline was driven by global trade uncertainties, with market sentiment remaining cautious ahead of the anticipated US tariff announcement. Concerns over potential disruptions to international trade kept investors on edge, leading to increased volatility.”

The stocks of IndusInd Bank, Trent, Bajaj Auto, Jio Financial, and HDFC Life were the major gainers at NSE, while HCL Technologies, Bajaj Finserv, HDFC Bank, Shriram Finance, and Bharat Electronics were the major losers today.

In sectoral indices, except media, oil & gas, and telecom, all other indices ended in the red with IT, realty, and consumer durables declining 2-3 cent each. (ANI)