Mumbai (Maharashtra) [India], March 11 (ANI): Indian stock markets declined sharply during the opening session on Tuesday following the strong sell-off in U.S. markets, reacting to the “Trump Uncertainty Discount” that is affecting global supply chains.
The Nifty 50 index opened at 22,345.95 with a decline of 114.35 points or -0.51 per cent, while the BSE Sensex lost 371.29 points or -0.50 per cent to open at 73,743.88.
Stock market experts stated that Trump’s tariff policy has significantly impacted the markets in the first 50 days of his tenure. They added that there is no option but to wait and watch, hoping for some clarity.
Ajay Bagga, Banking and Market Expert told ANI, “US markets sold off strongly in reaction to the Trump Uncertainty Discount that is pervading global supply chains, economies, geopolitics and trade. The Atlanta Fed GDP Now forecast is now showing a degrowth of -2.4% for US GDP in Q1, 2025”.
He further added, “The question facing markets is, how has sentiment turned so much that from all time high US markets and US Economic Exceptionalism, the sentiment has turned sourly risk off ? The answer lies in the chaos and uncertainty unleashed by the Trump administration in its first 50 days. There is no option but to hunker down and wait out the next two months and hope for some clarity to emerge”.
Among sectoral indices on the NSE, a sharp correction was witnessed in IT stocks, metal stocks, and media stocks. Other indices also opened in the red, with Nifty Bank falling more than 0.7 per cent at the time of filing this report.
Only five stocks in the Nifty 50 list opened with gains, while the other 45 stocks faced selling pressure during the opening session.
Experts further added that the “rank bad decisions” by the Trump administration–executed without a full analysis of consequences and followed by hasty rollbacks and reversals on many fronts–have raised uncertainty to unprecedented levels. However, they noted that risk can be managed through various measures by portfolio managers.
In other Asian markets, all major indices declined sharply on Tuesday. The Nikkei 225 index fell by more than 1.7 per cent, Hong Kong’s Hang Seng index declined by 0.93 per cent, Taiwan’s weighted index dipped by 1.86 per cent, and South Korea’s Kospi index lost 1.23 per cent.
In the American markets on Monday, the Nasdaq index tanked 4 per cent, while the S&P 500 also closed more than 2.7 per cent lower, causing stock markets around the globe to trade in the red. (ANI)
