Sensex Tanks 1,235 Points, Nifty Ends At 23,024; Trent Falls 6% – News18
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Indian benchmark equity indices BSE Sensex and Nifty 50 opened higher on Tuesday, amid mixed global cues
Stock Market Updates
Stock Market Crash: Indian equities ended in the negative on Tuesday, with the 30-share BSE Sensex plummeting 1,235.08 points, or 1.60%, to close at 75,838.36. The index traded within the range of 75,641.87 to 77,337.36 during the day.
The NSE Nifty50 also faced significant pressure, settling at 23,024.65, down by 320.10 points, or 1.37%. The index reached a high of 23,426.30 and a low of 22,976.85.
Out of the 50 Nifty50 stocks, 42 ended in the red, led by losses in Trent, Adani Ports, NTPC, ICICI Bank, M&M, SBI, Adani Enterprises, and Bharat Electronics. On the positive side, Apollo Hospitals, Tata Consumer, BPCL, and Adani JSW Steel were among the eight stocks that posted gains, with one stock remaining unchanged.
Following the trend of the benchmarks, broader markets also saw declines, with the Nifty Midcap 100 falling by 2.31%, closing at 53,834.95, and the Nifty Smallcap 100 dropping 2.28% to end at 17,456.50.
Global Cues
U.S. markets were closed on Monday in observance of Martin Luther King Jr. Day. The key highlight, however, was President Donald Trump’s inauguration for his second term, with investors closely monitoring any orders or statements emerging from his new administration.
In the Asia-Pacific region, markets showed mixed trends as investors awaited further clarity on policies to be unveiled by Trump. Australia’s S&P/ASX 200 rose by 0.44%, while Japan’s Nikkei 225 dipped by 0.08%, and the Topix fell by 0.15%. South Korea’s Kospi declined by 0.32%, and the Kosdaq slipped 0.81%. Hong Kong’s Hang Seng remained flat, while China’s CSI 300 fell 0.31%.
Elsewhere, the U.S. dollar was nursing broad losses after Trump refrained from imposing new tariffs. Reports indicated that any new taxes would be introduced in a “measured” way, easing concerns for trade-exposed currencies.
Yields on 10-year U.S. Treasuries dropped by 6 basis points to 4.56%, as the market feared that rapid tariff impositions could reignite inflationary pressures.
In his inauguration speech, Trump focused on immigration, energy, and foreign policy, including a promise to reclaim the Panama Canal, but only briefly mentioned tariffs. A subsequent memo directed agencies to investigate trade deficits, rather than announcing immediate tariff measures.
Market reactions were swift, with the dollar index falling 1.2%—its sharpest daily drop since late 2023—ending at 108.010, just above support at 107.70. This muted stance on tariffs caused some dovish expectations regarding U.S. interest rates, with futures pricing in a 50% chance of a quarter-point cut by May, up from 31% a week earlier.
Trump’s support for cryptocurrencies sent Bitcoin to a record high of $109,071.86 on Monday, before retreating to $102,000 in early Tuesday trading in Asia.
Meanwhile, U.S. oil prices dropped over $1 per barrel in early Asian trading on Tuesday, following Trump’s plan to maximize U.S. oil and gas production by declaring a national emergency. The most actively traded WTI crude contract for March fell $1.02 to $76.37 per barrel.
