Sensex, Nifty tank nearly 2% on global rout after Trump's tariff threats
The Hindu
Sensex and Nifty plummet nearly 2% amid global market turmoil over new tariffs, marking eighth consecutive day of losses.
Benchmark indices Sensex and Nifty tumbled nearly 2% on Friday (February 28, 2025), mirroring deep losses in global markets after the latest announcement of additional 10 per cent tariff on Chinese products rattled investors.
The 30-share BSE benchmark Sensex tanked 1,414.33 points or 1.90% to settle at 73,198.10. During the day, it plunged 1,471.16 points or 1.97% to 73,141.27.
Extending losses to the eighth straight day, the NSE Nifty slumped 420.35 points or 1.86%to 22,124.70.
From its record peak of 85,978.25 hit on September 27 last year, the BSE benchmark index is down 12,780.15 points or 14.86%. The Nifty dropped 4,152.65 points or 15.80% from its lifetime high of 26,277.35 hit on September 27, 2024.
Relentless foreign fund outflows and concerns about the U.S. economic outlook made investors jittery, according to analysts.
From the Sensex pack, Tech Mahindra slumped over 6% followed by IndusInd Bank which tanked over 5 per cent.
Mahindra & Mahindra, Bharti Airtel, Infosys, Tata Motors, Titan, Tata Consultancy Services, Nestle and Maruti were also among the major laggards.
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