India’s stock markets opened lower on Tuesday, extending their losing streak to a fourth consecutive session as global trade tensions escalated. The downturn was driven by investor concerns over U.S. President Donald Trump’s latest tariff hikes on steel and aluminum imports, which have rattled global markets.
As of 9:30 a.m. IST, the Nifty 50 index fell by 0.31% to 23,307.75 points, while the BSE Sensex dropped 0.27%, settling at 77,102.62 points. The market-wide slump affected twelve out of thirteen major sectors, with smallcap and midcap stocks taking heavier hits, declining by 1.8% and 1.4%, respectively.
The tariff announcement, which raises U.S. duties on steel and aluminum to 25% without exceptions, has heightened fears of a broader trade conflict. Trump also signaled plans to impose additional reciprocal tariffs on multiple countries in the coming days, adding further uncertainty to global economic conditions.
The ripple effects of these trade policies were evident across Asian markets, as the MSCI Asia ex-Japan index slid 0.3%. In India, sectors with high export dependencies, including automotive and manufacturing, saw a sharp decline. Eicher Motors, a key player in the automotive sector, witnessed a 5% drop in its stock price following weaker-than-expected quarterly results, compounding investor concerns.
Market analysts warn that rising trade tensions and restrictive trade policies could negatively impact India’s export-driven industries, potentially leading to supply chain disruptions and costlier imports. As the situation unfolds, investors are advised to closely monitor global policy shifts and assess their potential effects on domestic economic stability.
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