Impact of American tariff: Indian stock market closed with a decline

Mumbai
The Indian stock market closed in a red mark in Tuesday’s trading session. At the end of the day, the Sensex was down 308.47 points or 0.38 per cent to 80,710.25 and the Nifty was 73.20 points or 0.30 per cent to 24,649.55. Along with largecap, midcap and smallcap also declined. The Nifty Midcap 100 index declined by 225.50 points or 0.39 per cent to 57,206.85 and the Nifty Smallcap 100 index at 17,864.55 with a weakness of 28.85 points or 0.16 per cent. The Nifty had IT, PSU bank, financial services, pharma, FMCG, realty, media and energy index in red mark, while metal, auto and commodity index were locked in green mark.
The Sensex pack featured Titan, Maruti Suzuki, Trent, Bharti Airtel, Bajaj Finance, Tech Mahindra, SBI, L&T, HCL Tech and Axis Bank Top Gainers. Reliance, Infosys, ICICI Bank, Eaterial (Zomato), BEL, HDFC Bank, Power Grid and ITC were the top losis.
According to experts, the reason for the market fall is believed to be the threat of more tariffs on India by US President Donald Trump.
Ashika Institutional Equities said in her note, “Region-wise trends were mixed, auto and consumer durables saw relatively strengthening, while most other areas were in loss. Especially, oil and gas, pharma, construction and consumer goods were seen to have a huge decline.”
The note further stated that before the monetary policy, the market was seen vigilance. Banking shares were sold in the second part of the session.
The market started with a decline. The Sensex was trading at 80,634.61 after a decline of 384.11 points or 0.47 percent at around 9.58 am. At the same time, the Nifty was at 24,608.95 after a decline of 113.80 points or 0.46 percent.