Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, tanked in trade on Friday on global cues following US President Donald Trump’s reciprocal tariffs announcement. While BSE Sensex went below 75,600, Nifty50 was below 23,000. At 10:03 AM, BSE Sensex was trading at 75,590.04, down 705 points or 0.92%. Nifty50 was at 22,972.50, down 278 points or 1.19%.
Following the United States’ announcement of reciprocal tariffs on several nations, including India, domestic equities showed a modest reaction. With this significant event over, market attention will now concentrate on the RBI’s monetary policy scheduled for April 9 and the upcoming fourth quarter earnings season beginning next week.
On Thursday, Wall Street indices experienced a significant downturn, recording their steepest single-day percentage declines in years. The plunge occurred as President Donald Trump’s comprehensive tariffs sparked concerns about a potential full-scale trade war and worldwide economic downturn.
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Share prices in Australia and Japan declined at market opening, as global investors prepared for continued market volatility. This followed significant losses in US markets, where the S&P 500 fell 4.9% and the Nasdaq 100 dropped 5.5% on Thursday, marking their steepest declines since 2020. The downturn came after President Donald Trump announced additional tariff measures, prompting investors to seek safer assets.
On Friday, gold maintained its price levels and was positioned to record its fifth weekly gain in succession. The increased appeal of gold as a safe-haven investment was driven by concerns over global trade tensions following US President Donald Trump’s implementation of reciprocal tariffs.
Foreign portfolio investors emerged as net sellers, offloading Rs 2,806 crore worth of shares on Thursday, whilst domestic institutional investors acquired shares valued at Rs 221 crore.
The net short positions held by Foreign Institutional Investors increased to Rs 73,190 crore on Thursday from Rs 62,329 crore on Wednesday.
