Mumbai:
In a day of bloodbath for Dalal Street, the Indian stock market suffered its steepest fall in nearly 10 months, with investor wealth plunging by a staggering ₹24 lakh crore. The crash came amid growing global concerns over fresh tariff disputes, particularly between major economies like the US and China, which triggered a wave of panic selling across the globe.
The BSE Sensex nosedived by over 1,500 points, closing well below the psychological 72,000 mark, while the NSE Nifty 50 dropped by more than 450 points, ending below 21,800. Market sentiment remained negative throughout the session as foreign institutional investors pulled out funds and domestic investors scrambled to protect their portfolios.
All major sectors, including banking, IT, pharma, auto, and metals, closed deep in the red. Shares of blue-chip companies such as Reliance Industries, HDFC Bank, Infosys, and Tata Steel saw significant losses, contributing heavily to the overall decline. Mid-cap and small-cap indices also followed suit, with declines of over 2–3%.
Market experts attributed the fall to heightened global trade tensions following statements from the US hinting at increased tariffs on imports from various countries, which could impact export-driven sectors. Additionally, weak cues from Asian and European markets, fears of inflationary pressure, and concerns over corporate earnings added to the gloom.
Speaking on the development, market analyst Ajay Bagga stated, “This is a classic case of fear-driven selling. Until there is clarity on global trade policy, volatility is likely to remain high.”
Investors are advised to remain cautious and avoid panic-based decisions. Analysts recommend focusing on fundamentally strong stocks and maintaining a long-term perspective, especially amid high volatility.
With upcoming earnings season and global monetary policy decisions on the horizon, the markets are expected to remain choppy. Traders are keeping a close eye on developments from global financial institutions and government announcements for further direction.
