PrashantNews
It was yet another bad day for the Indian stock market on Tuesday as it plunged by 1390.41 points beginning the new financial year on a negative note with tech stocks led by Infosys which was down 2.73 percent, contributing the downtrend.
Heavyweights like Reliance, L&T, HDFC Bank and ICICI Bank remained red as most of the index stocks went into a tailspin amid heightened worries over 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 Donal Trump plans to roll out a set of reciprocal tariffs on April 2, which he says will be “Liberation Day” for the US. White House aides have drafted a proposal to impose tariffs of around 20% on most imports to the United States, the media reports said.
Trump’s team is mulling using trillions of dollars in new import revenue for a tax dividend or refund, the report said, citing sources.
Among gainers, IndusInd Bank jumped over 5% while Zomato ended marginally higher.