Markets Tumble: Heavy Selling Pummels Indices Amid Trump Tariff Tension

Indian stock markets took a harsh dive on Tuesday, as heavyweight stocks fell sharply due to U.S. President Trump's aggressive tariffs. The Nifty dropped 1.37% to 23,024.65, while the Sensex plunged 1.60% to 75,838.36. Volatility soared with foreign sell-offs and disappointing earnings weighing on sentiment.

On Tuesday, Indian stock markets suffered a severe downturn, primarily driven by significant sell-offs in key stocks such as Kotak Bank and Zomato, compounded by President Donald Trump's aggressive remarks on trade tariffs. By the end of trading, the Nifty had fallen by 320.10 points or 1.37% to close at 23,024.65, while the Sensex dropped 1,235.08 points or 1.60%, settling at 75,838.36.

The session saw 1,019 shares making gains, 2,552 declining, and 79 remaining unchanged at the National Stock Exchange. Top-performing stocks included Apollo Hospitals Enterprise and Tata Consumers, while Trent and NTPC were among the biggest losers. The broader market observed midcap and smallcap indices shedding 2% each, with notable declines in consumer durables and realty sectors.

Ameya Ranadive of StoxBox highlighted that the market's negative closing was fueled by Trump's tariffs and foreign institutional selloffs. VLA Ambala added that excess volatility was driven by poor earnings. Specific stocks like Zomato suffered double-digit losses due to weak profitability, contributing to the plunge in broader indices, with the VIX index marking a six-month high.

(With inputs from agencies.)