The impact of the tariff imposed by US President Donald Trump was such that the Indian stock market declined drastically on Friday. Trump’s counter -tariff policy intensified selling in equity markets around the world, which also affected investors in the domestic market.
Investor worried about the possibility of business war
After Trump imposed tariffs on more than 180 countries around the world, China on Friday retaliated and imposed 34% tariff on all the imports of American goods. This increased the possibility of trade war and Investors became worried. As a result, the Sensex fell 931 points or 1.2 percent to close at 75365 points, while the Nifty fell 346 points or 1.5 percent to close at 22904 points.
Loss of Rs 10 lakh crore
Investors in the stock market lost Rs 10 lakh crore on 4 April. Following the announcement of Trump’s mutual tariff on 2 April, the total market assessment of companies listed in BSE also declined Rs 9,98,379.46 crore to Rs 9,03,34,886.46 crore ($ 4.73 trillion). On Friday, 24 out of 30 shares of BSE Sensex closed in red mark. All regional index closed at red mark.
The shares of these companies suffered the most.
The most damaged shares of companies that will now face heavy tariff pressure while exporting to the US. The Friday session saw heavy selling in auto and metal shares as well as pharma companies’ shares. Although Trump has excluded the pharma industry from the purview of counter -tariffs, he has said that we are going to put such tariffs on pharma which have never been seen before. As a result, lupine declined by 5.9 percent, 5.3 percent in Cipla, 3.6 percent in Dr. Reddy’s Laboratories shares, while Sun Pharma’s shares fell by 3.4 percent.
Metal shares also declined drastically.
Apart from Pharma, heavy selling was also seen in metal stocks. Nalco shares fell by 8.7 percent, while Hindalco’s shares fell by 8.1 percent. Among other metal shares, Tata Steel declined by 8.6 percent, 5 percent in cell, 3.4 percent in JSW Steel and 8.6 percent in Vedanta’s shares.
Foreign portfolio investors (FPIs) have invested Rs 1,000 crore. Shares worth Rs 3,484 crore were sold, while domestic institutional investors (DIIs) Rs. A net withdrawal of Rs 1,720 crore was done.
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