Nifty sinks below 22,000, Sensex falls over 350 points, tracking global peers ahead of Trump's tariffs
Nifty, opened lower on Tuesday, weighed down by index heavyweight Reliance Industries and IT stocks, tracking losses in Asian markets after former U.S. President Donald Trump reiterated that his proposed tariffs would proceed as planned.
The BSE Sensex was down 386 points, or 0.53%, at 72,665, while the Nifty50 fell 145 points, or 0.66%, to 21,974 around 9:20 am.
Trump's proposed 25% tariffs on Canada and Mexico will take effect from 10:31 a.m. IST on Tuesday. Additionally, a 10% duty on China—resulting in a cumulative 20% tariff—will also come into force alongside these levies.
Among Sensex stocks, HCL Tech, Tech Mahindra, Infosys, Nestle India, and NTPC were the top laggards, declining up to 2.7%. On the other hand, SBI, ICICI Bank, HDFC Bank, and UltraTech Cement opened with gains.
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Read on economictimes.indiatimes.com
