 "Bears reigned over global stock markets on Monday (April 4) amid concerns over Trump tariffs. Image courtesy: AI-generated image via Imagen")
Benchmark Indian stock indices on Monday (April 7) ended the day bathed in red after bleeding over the fallout from US President Donald Trump’s tariff hikes coming into effect.
The 30-share BSE Sensex sank 2.95 per cent or points to close at 73,137.90.
The broader Nifty 50 index crashed 3.24 per cent or points to conclude the day at 22,161.60.
This is the lowest level for Sensex and Nifty 50 since June 4, 2024, when the results for the 2024 Lok Sabha elections were announced.
D-street outperforms Asian peers
Despite the bloodbath, Indian indices fared comparatively better than Asian peers in Hong Kong, Japan, Taiwan, and mainland China.
Taiwan’s stock index saw its biggest single-day fall on record after the island territory’s trading resumed after a long weekend. The benchmark Taiex fell 9.7 per cent to 19,232.35.
Japan’s Nikkei share average dropped to its lowest level in nearly 1.5 years. The benchmark Nikkei 225 dropped as much as 8.8 per cent to hit 30,792.74 for the first time since October 2023, before ending the day 7.8 per cent in the red at 31,136.58.
Hong Kong’s Hang Seng index slumped 13.2 per cent to close at 19,828.30, while mainland China’s Shanghai Composite ended the day at 3,096.58, 7.3 per cent in the red.
European markets fare better
The carnage was not limited to Asian financial markets alone, although the rout seemed to be the worst here. European stock indices were also in the middle of a showdown with the bears during early trading hours at around 10:45 am GMT.
London Stock Exchange’s FTSE 100 was down 3.62 per cent at 7,763.43. Before it pared losses and reached this level, the UK’s most well-known index had plunged to a one-year low.
Impact Shorts
More ShortsFrankfurt’s DAX fell 4.11 per cent to 19,793.10, while the Paris CAC 40 of blue-chip stocks declined 4.36 per cent to 6,957.46 points.
Indian indices’ closing numbers still put the country’s financial markets’ performance ahead of the European peers.
With inputs from agencies