Trump’s Tariffs rattle markets, Sensex, Nifty end in red

The domestic share market indices extended losses for the second straight session on Friday, as concerns over Trump's tariffs weighed on sentiment. The Nifty slipped below 23,000, while the Sensex tumbled over 900 points, with broader markets also facing significant selling pressure. According to information, Wall Street recorded its steepest single-day percentage drop since 2020.
At close, the Sensex was down 930.67 points or 1.22 percent at 75,364.69, and the Nifty was down 345.65 points or 1.49 percent at 22,904.45. All sectoral indices ended in the red, including the pharma index, which lost 4 percent after US President Trump hinted that pharmaceuticals too are under consideration for trade tariffs.
Bajaj Finance, Tata Consumer, HDFC Bank, Apollo Hospitals and Nestle India were the top gainers on the Nifty, while losers included Tata Steel, Hindalco Industries, ONGC, Tata Motors, Cipla.On the sectoral front, the Metal index plunged 6.5 percent, Pharma index shed 4 percent, Realty index tumbled 3.6 percent, Oil & gas index slipped nearly 4 percent, while Auto, Consumer Durables, Power, PSU, Media, Information Technology indices lost between 2-3 percent.
Market This Week:
●Market erases half of the gains seen in previous 2 weeks,
●Sensex & Nifty fall 3 percent each, Midcap index down 2 percent
●Nifty Bank relatively outperforms, falls less than 0.5 percent,
●IT is the biggest losing index on global growth concerns, falls 9 percent
●IT index records biggest weekly fall since COVID 2020, down 9 percent,
●Except FMCG, all sectoral indices record losses
Rupee Close:
On 04 April'25,the Indian rupee pared its initial gains and settled for the day higher by 5 paise at 85.25  against the US dollar on risk aversion in global markets amid trade tariff worries.Forex traders reportedly stated during the day, the domestic unit gained on weak US dollar index and a sharp decline in crude oil prices, while weak domestic markets and foreign fund outflows capped sharp gains for the local unit.
Trading Guide:
Vinod Nair, Head of Research, Geojit Investments reportedly quoted as saying the recent implementation of higher-than-anticipated U.S. tariffs has had a significant impact on global markets, triggering a bearish trend as investors assess the broader implications. The likelihood of retaliatory measures against the U.S. has further heightened uncertainty. U.S. bond yields and oil prices are trending downward, reflecting concerns over potential economic slowdown and increased recessionary risks.
Domestically, while the direct impact of these tariffs is relatively moderate compared to other major economies, it remains more substantial than initially projected. As Q4 approaches, a sequential improvement in corporate performance is anticipated. However, prevailing weak market sentiment suggests that the phase of consolidation may persist in the near term.

(Business Correspondent)