Stock market falls after US President Trump announces new tariffs
Stock market fell on Monday amid losses in global markets as the US President Donald Trump announced new tariffs on key trading partners, including Canada, Mexico, and China.
Stock market fell on Monday amid losses in global markets as the US President Donald Trump announced new tariffs on key trading partners, including Canada, Mexico, and China.
Stock market closed higher on Friday, a day before the announcement of Budget, for the fourth consecutive session.
At close, Sensex was up 654 points or 0.9 per cent at 76,555 and Nifty was up 206 points or 0.9 per cent at 23,163.
The stock market on Tuesday snapped two-day losing streak and gained 0.5 per cent supported by auto, realty and financials after the RBI announced liquidity-boosting measures.
At close, Sensex was down 824 points or 1 per cent at 75,366, and the Nifty was down 275 points or 1.2 per cent at 22,817.
It was a shortened week at the bourses with Monday being a trading holiday. Markets gained on three of the four trading sessions and lost on one.
Nifty closed on a flat note with negative bias, while most sectoral indices closed in the green on Thursday.
The maxim ‘truth is stranger than fiction’ plays out daily in our lives. On the one hand, tax collections, Sensex and sales of high-end vehicles are at record levels and people were seen queuing up to buy gold on Dhanteras but on the other, the subsidised ration scheme had to be extended for five years and the extraordinarily large number of people applying for work under MNREGA, resulted in budgeted funds getting exhausted by mid-year.
As the market unfolded, the benchmark Sensex experienced a dip of 120.45 points, commencing at 65,555.48.
The Sensex ended the special one-hour session up 355 points at 65,259 points.
