The Indian stock markets ended the session on a bearish note as both Nifty and Sensex crashed over 1%, reflecting heightened global concerns triggered by US President Donald Trump’s tariff hike on steel and aluminum imports. Nifty fell by 309 points to close at 23,071, while Sensex tumbled 1,018 points, ending at 76,296. Tilaknagar Industries, Info Edge India, and Devyani International led the losses, while BLS E-Services gained on strong Q3 earnings.
Insights by Bajaj Broking Research:
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Global Pressure: US Tariff Hike on Steel and Aluminum
US President Donald Trump’s move to impose a 25% tariff on steel and aluminum imports without exemptions has raised fears of a global trade war. The protectionist policy is expected to impact global markets, with emerging economies like India facing heightened risks. -
FPI Selling Drags Markets Down
Indian markets remain under pressure as foreign portfolio investors continue to exit due to rising US bond yields and a strengthening dollar. The consistent FPI outflows since October have exacerbated selling pressure. -
US Bond Yields and Strong Dollar Weigh on Sentiment
With the 10-year US Treasury yield reaching 4.495%, investors have shifted focus to US assets, further impacting equity markets in India.
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