BLACK Monday! Carnage at Dalal Street, BSE opens 3,000 points lower, NSE down 1,146 points, widespread bloodbath

It is a black Monday for the share market in India. The US reciprocal tariff regime as announced by President Donald Trump, proved so detrimental that the Bombay Stock Exchange (BSE) opened with a low of 3,000 points at the benchmark index of Sensex.  

Sensex Nosedives

Minutes after opening at 9.16 AM on Monday, the BSE Sensex was recorded at 3,072, or 4.09% lower at 72,296. The NSE index Nifty50 dropped 1,146 points, or 5%, to 21,758. This was not just the result of a panic sale but the broad-based carnage taking place on Dalal Street. 

Midcap, Smallcap too suffer

It was the sharpest fall since July last year. The crash was so intense that at 12:22 pm, the BSE Sensex registered a loss of 3,219 points, or 4.27%, to 72,145. The bloodbath was so widespread that the BSE Midcap Index fell nearly 4%, while the Smallcap Index crashed over 5%.

 Besides, the BSE Smallcap crashed over 5% to reach 43,420.37. The crash was widespread, and no sector could escape the wrath.  However, some of the worst-hit stocks include RGL (down 12.1%), Genesys (down 11.9%), Transpek (down 11.9%), EMBDL (down 11.7%), and JTL Industries (down 11.5%).

However, the market pundits were not shocked, as the trend was reflected earlier in the morning when Asian markets like those in Japan and South Korea opened in red. 

Worldwide Bloodbath

While Japan’s Nikkei fell by 7%, South Korea’s Kospi tumbled 5%, and China’s blue-chip index slipped nearly 7%. On the other hand, Hong Kong’s Hang Seng fell 10.5%. In the West, Nasdaq futures plummeted 4% and S&P 500 futures lost 3.1%. European markets were also poised for a sharp decline.

All sectors hit hard

While Nifty Metal recorded ab fall of 8%, Nifty IT saw a reduction exceeding 7%. On the other hand, Nifty Auto, Realty, and Oil & Gas sectors declined more than 5%.

Tata Motors hit lower circuit

Coming under the attack of 25% tariffs on automobiles and their parts, Tata Motors shares crashed 10% to hit their lower circuit at Rs 552.50. It was a doble whammy for the company that has earlier announced a temporary pause in shipments to the US for April.