Sensex, Nifty slip as Global markets Tumble before Trump tariffs
Indian stock markets opened lower on Tuesday, March 4, 2025, tracking a global decline after US President Donald Trump confirmed his proposed tariffs would take effect. IT, telecom, and real estate stocks saw the biggest losses.
At 9:20 AM IST, the Sensex dropped 341.82 points (0.47%) to 72,744.12, while the Nifty fell 132.80 points (0.6%) to 21,986.50.
Biggest Gainers and Losers
Tech Mahindra led the decline, dropping 2.74% to ₹1,452.25. HCL Technologies followed, down 2.47% at ₹1,534.05. NTPC also slipped 1.96%, trading at ₹308.35.
Only three Sensex stocks opened in the green. SBI rose the most, gaining 0.93% to ₹701.60. ICICI Bank climbed 0.73% to ₹1,214.95, while HDFC Bank edged up 0.55% to ₹1,710.55.
Sectoral Performance
The Nifty Midsmall IT & Telecom Index led the losses, falling 2.40% to 8,561.00. Nifty Realty dropped 2.23% to 789.95, while Nifty IT declined 2.03% to 36,852.50. This marked a reversal for Nifty Realty, which gained 1.15% in the previous session.
Market Close in the Previous Session
On Monday, the Sensex closed 112.16 points (0.15%) lower at 73,085.94, while the Nifty ended flat, slipping just 5.40 points (0.02%) to 22,119.30. Despite the dip, Nifty broke a nine-day losing streak last seen in May 2019, when markets rebounded 9% in two weeks.
Reliance Industries led Monday’s declines, dropping 2.38% to ₹1,171.10. Bajaj Finserv fell 1.86% to ₹1,838.20, while HDFC Bank closed 1.72% lower at ₹1,701.25.
Among sectoral indices, Nifty Midsmall Financial Services fell the most, dropping 1.18% to 13,658.55. Nifty Media lost 1.10% to 1,371.55, while Nifty Oil & Gas slipped 0.80% to 9,513.40.
Market Outlook
“The market showed weakness throughout the previous session,” said Kunal Kamble, Senior Technical Research Analyst at Bonanza. “Buyers attempted a recovery in the second half, but sellers pushed prices back near support levels.”
Kamble expects the market to remain bearish toward the 21,800 level. “Prices are trading below major EMAs, signaling a downtrend. The formation of lower highs and lower lows further confirms negative sentiment,” he added.
As global uncertainty weighs on investor confidence, traders will watch for further developments on Trump’s tariffs and their impact on global markets.
