The Indian benchmark equity index declined on Thursday, 3 April after US President Donald Trump announced a 27 percent tariff on imports from India to US. After Trump’s announcement, the Asian markets saw a major decline and it also affected the local markets.
Market closed in red mark
The 30 -share BSE Sensex opened with a decline. The Sensex continued to decline at 3.30 pm. The Sensex fell 322 points to close at 76,265.29. While the Nifty fell 90 points to close at 23,242.00.
Decline in IT shares
Trump has cleared the decision to impose new tariffs on 180 countries including India. As a result, shares of highly dependent local IT companies on the US market have declined. TCS suffered the most damage, with a decline of slightly more than 4%. The shares of HCL Tech, Infosys, Tech Mahindra also declined by 4%.
Blow up in Nifty Pharma
Pharmaceutical stocks saw a sharp jump after US President Donald Trump imposed 26 percent tariff on Indian goods. This is because pharmaceutical products are excluded from mutual tariffs. Nifty Pharma rose 4.9 percent to a high level of 21,996.6 during day trading.
The Post Stock Market Closing: Stock market closed in red mark, Sensex fell 322 points first appeared on News India Live | Breaking India News, The Indian Headline, India Express News, Fast India News.
