Markets Tumble As Sensex Sinks 1,068 Points, Nifty Loses 288 Points; IT Stocks Slide 4.7% On Fresh US Tariff Jitters
Sensex fell 1,068 points and Nifty slipped 1.12 percent as IT stocks crashed 4.7 percent on fresh US tariff fears. Realty and banking shares also declined, while metals outperformed. Analysts expect continued volatility amid global trade tensions and concerns over AI-driven stock valuations.
Sensex fell 1,068 points and Nifty slipped 1.12 percent as IT stocks crashed 4.7 percent on fresh US tariff fears. |
Mumbai: India’s stock markets ended sharply lower on Tuesday as fresh concerns over US trade policy hit investor confidence. Heavy selling in IT, banking and infrastructure stocks dragged down benchmark indices.
The 50-share Nifty fell 288 points, or 1.12 percent, to close at 25,424.65. The Sensex dropped 1,068 points, or 1.28 percent, to settle at 82,225.92 — marking the worst session in four days.
IT Stocks Take a Big Hit
IT stocks were the biggest losers. The Nifty IT index plunged 4.74 percent to close at 30,053.50 after touching a two-year low during the day. Weak global cues and worries about lower US tech spending hurt the sector.
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The fall came after fresh tariff threats from US President Donald Trump. Over the weekend, he announced 15 percent new temporary global tariffs and warned countries not to step back from recently negotiated trade deals.
This move raised fears of new trade tensions. It also came even as the US Supreme Court ruled that earlier tariffs were unlawful, adding to confusion in global markets.
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Other Sectors Also Under Pressure
The Nifty Realty index fell 2.54 percent, making it the second-biggest loser after IT. Banking and infrastructure stocks also saw strong selling.
However, the Nifty Metal index performed better than the broader market and limited losses.
Broader markets showed some strength compared to benchmark indices. The Nifty MidCap index slipped 0.32 percent, while the Nifty SmallCap index declined 0.55 percent.
Technical View and Global Worries
An analyst said that the 25,500–25,600 range remains an important resistance zone for Nifty. A strong move above this level could push the index towards 25,700. On the downside, a fall below 25,300 may lead to further weakness.
Meanwhile, Christopher Wood of Jefferies warned that the AI-driven rally in global markets, especially in the US, could face pressure this year if growth slows or trade tensions increase.
Experts said rising global uncertainty and tariff concerns are likely to keep markets volatile in the near term.
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