Sensex nosedives 600 points over Trump's reciprocal tariff policy
What's the story
The Indian stock market witnessed another crash today with both Sensex and Nifty down by nearly 1%.
At around 1:15pm, the Sensex plummeted over 610 points to 75,525, while the Nifty fell 230 points to trade at 22,800—a key support point.
The fall was mainly fueled by fears over US President Donald Trump's reciprocal tariff policy and persistent foreign investor outflows from Indian equities.
Market influencers
Whatever India charges, we will charge them: Trump
Investor sentiment was marred by Trump's reiteration of his stance on imposing reciprocal tariffs on trade partners, including India.
"Whatever India charges, we will charge them," Trump said.
This uncertainty over tariff structures is believed to have shaken investor confidence.
Further, foreign institutional investors (FIIs) withdrew a whopping ₹19,077 crore from Indian equities this month alone, after a massive sell-off of ₹78,027 crore in January.
Earnings impact
Disappointing Q3 earnings and weak rupee add to market woes
The market downturn was further worsened by disappointing third-quarter earnings from companies like Natco Pharma, Senco Gold, and Deepak Nitrite. These weak results have raised concerns over corporate growth in India.
The ongoing weakness in the rupee amid global economic uncertainties has also contributed to foreign investor outflows. On Thursday alone, FIIs offloaded equities worth ₹2,789.91 crore.