Stock markets go into a tailspin ahead of U.S. 'Liberation Day'; Sensex tanks 1,390 points
The Hindu
Stock markets tumble as Sensex plunges 1,390 points due to US tariff uncertainty, IT and private bank sell-off.
Stock markets went into a tailspin on Tuesday (April 1, 2025), with benchmark Sensex plunging by 1,390 points due to selling in IT and private bank shares amid heightened uncertainty ahead of the rollout of reciprocal tariffs by the U.S. on April 2.
Starting the new financial year on a losing note, the 30-share BSE Sensex tanked 1,390.41 points or 1.80% to settle at 76,024.51 as 28 of its components ended lower and only two advanced. During the day, the index plummeted 1,502.74 points or 1.94% to 75,912.18.
The NSE Nifty dropped 353.65 points or 1.50% to 23,165.70. The key indices logged their steepest single-day losses in a month.
U.S. President Donald Trump plans to roll out a set of reciprocal tariffs on April 2, which he says will be "Liberation Day" for the US.
From the Sensex pack, HCL Tech, Bajaj Finserv, HDFC Bank, Bajaj Finance, Infosys, Titan, ICICI Bank, Sun Pharma, Reliance Industries, Larsen & Toubro, Tech Mahindra and NTPC were among the biggest laggards.
Among gainers, IndusInd Bank jumped over 5% while Zomato ended marginally higher.
“Amid heightened global volatility ahead of the anticipated U.S. reciprocal tariff announcement tomorrow, the domestic market witnessed a significant sell-off today,” Vinod Nair, Head of Research, Geojit Investments Limited, said.
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