Market Closing Bell: From the Sensex pack, Tech Mahindra slumped over 6 per cent followed by IndusInd Bank which tanked over 5 per cent.
Market Closing Bell: The stock market crashed nearly 2 per cent on Friday, mirroring deep losses in global markets. The sharp fall comes after the latest announcement of an additional 10 per cent tariff on Chinese products rattled investors.
While the 30-share BSE benchmark Sensex tanked 1,414.33 points or 1.90 per cent to settle at 73,198.10, the NSE Nifty slumped 420.35 points or 1.86 per cent to 22,124.70. This is the eighth straight day that ended in the red.
During the day, Sensex plunged 1,471.16 points or 1.97 per cent to 73,141.27.
From its record peak of 85,978.25 hit on September 27 last year, the BSE benchmark index is down 12,780.15 points or 14.86 per cent. The Nifty dropped 4,152.65 points or 15.80 per cent from its lifetime high of 26,277.35 hit on September 27, 2024.
From the Sensex pack, Tech Mahindra slumped over 6 per cent followed by IndusInd Bank which tanked over 5 per cent.
Mahindra & Mahindra, Bharti Airtel, Infosys, Tata Motors, Titan, Tata Consultancy Services, Nestle and Maruti were also among the major laggards.
HDFC Bank emerged as the only gainer from the pack.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled with deep cuts. European markets were trading mostly lower. US markets ended sharply lower on Thursday.
“The national market experienced a sharp decline amid heightened bearish sentiment largely influenced by weak global cues. The decline was largely triggered by fear of the implementation of 25 per cent tariff on US imports from Canada and Mexico, set to take effect next week, along with an additional 10 per cent tariff on Chinese goods,” Vinod Nair, Head of Research, Geojit Financial Services, said.
The BSE Sensex eked out marginal gains of 10.31 points or 0.01 per cent to settle at 74,612.43 on Thursday. The Nifty slipped 2.50 points or 0.01 per cent to 22,545.05, registering its seventh day of decline.
With PTI Inputs
