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Indian stock markets are expected to face volatility following a sell-off in global markets after Trump tariffs
Sensex Today
Sensex Today: Indian benchmark equity indices remained subdued in pre-open trading on Friday, reflecting weakness in global markets as investors adopted a risk-off approach following broad-based import tariffs imposed by the US.
The Sensex dropped 836 points, or 1.09%, to 75,457, while the Nifty50 fell 304 points, or 1.3%, to 22,945 in morning trade.
Broad-based selling pulled all sectoral indices into the red, with sharp losses in metal, pharma, and IT stocks. The market capitalisation of all BSE-listed firms declined by Rs 9.47 lakh crore to Rs 403.86 lakh crore.
On the sectoral front, IT stocks continued their sell off, tracking the fall in Wall Street’s Mag 7 counters, with the Nifty IT index crashing two percent in trade; Coforge, Persistent Systems were the top losers on the index, while all 10 constituents traded in the red.
Nifty Auto, Nifty Metal and Nifty Pharma also crashed over one percent each, as investors trimmed their holdings in the counters. All 13 sectoral indices traded in the red.
Rupak De, Senior Technical Analyst at LKP Securities, noted that the Nifty opened lower due to weak global cues but quickly recovered. “Market sentiment remains positive as Indian equities showed resilience despite the global downturn driven by Trump’s tariff announcement. Short-term support for the Nifty is seen at 23,100, and as long as it stays above this level, the trend should remain strong. On the upside, it may move towards 23,430, and a decisive break above this level could fuel a more substantial rally,” he said.
Rupee Open
Indian rupee rises above 85 per US dollar for the first time since December 2024. Rises 0.4% at year-to-date high of 85.0475 per U.S. dollar, versus 85.43 previous close
Global Market Overview
US markets saw a sharp decline on Thursday, with the S&P 500 returning to correction territory after its largest one-day loss since 2020. The index dropped 4.84%, closing at 5,396.52, while the Dow Jones Industrial Average plunged 1,679.39 points, or 3.98%, to end at 40,545.93. The Nasdaq Composite fell 5.97%, finishing at 16,550.61.
Additionally, futures tied to the Dow Jones Industrial Average dropped 77 points, or 0.2%, on Thursday night, while S&P 500 futures fell 0.1%, and Nasdaq 100 futures were slightly lower.
In Europe, the STOXX 600 lost 2.57%, the UK’s FTSE declined 1.55%, and Germany’s DAX dropped 3.01%.
Japan’s Nikkei fell 2.46% in the Asia-Pacific region, and the Topix lost 3.18%. South Korea’s Kospi dropped 0.29%, although the Kosdaq rose 0.59%. Australia’s S&P/ASX 200 dropped 1.42%. Hong Kong and mainland China markets are closed today for the Qingming Festival.
