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Indian stock markets opened lower on Tuesday, March 4, 2025, as market sentiment was dampened by US President Donald Trump’s decision to implement tariffs
Stock Market Today
Sensex Today: Indian stock markets opened lower on Tuesday, March 4, 2025, as market sentiment was dampened by US President Donald Trump’s decision to implement tariffs on Canada and Mexico starting today, along with Canada’s retaliatory tariffs on US goods.
The BSE Sensex dropped 384 points, or 0.53%, to trade at 72,702, with key stocks like HCL Tech, Tech Mahindra, Infosys, NTPC, Tata Steel, Titan Company, M&M, Adani Ports, Power Grid, and Bajaj Finance contributing to the decline.
The Nifty50, meanwhile, fell below the 22,000-mark for the first time in nine months, trading at 21,973.10, down by 146 points or 0.66%. Other significant Nifty losers included ONGC, BPCL, Coal India, Nestle India, Bajaj Auto, Eicher Motors, and JDW Steel, with declines of up to 3.3%.
In the broader market, the Nifty MidCap index slid 1.69%, while the Nifty SmallCap index was down 1.61%.
Shrikant Chouhan, Head of Equity Research at Kotak Securities, noted that the 22,000 level on the Nifty and 72,800 on the Sensex would serve as strong support for day traders. On the upside, the immediate resistance zone for the bulls lies at 22,200/73,400. If the market moves above this range, it could rally to 22,250–22,300/73,500-73,800. However, if the indices fall below 22,000/72,800, traders may consider exiting their long positions.
Global Cues
US President Donald Trump’s decision to go ahead with the tariffs on Canada and Mexico, Tuesday onwards, is likely to dent stock market sentiment today. In response, Canada, too, has announced “retaliatory” tariffs on the US, effective immediately.
That apart, Donald Trump has decided to pause all the military aid to Ukraine following his clash with Ukrainian President Volodymyr Zelenskyy last week. He also posted a cryptic message on social media website ‘X’, formerly ‘Twitter’, last night saying “Tomorrow night will be big. I will tell it like it is”.
Globally, Japan’s Nikkei declined 2.16 per cent, Australia’s ASX200 fell 1 per cent, and Hang Seng fell 1.45 per cent.
South Korea’s Kospi, however, volatile around flat line.
Overnight, the major Wall Street indices slumped with the S&P 500 falling 1.76 per cent, the Dow Jones Industrial Average declining 1.48 per cent, and the Nasdaq Composite sliding 2.64 per cent, weighed down by Nvidia shares’ crash of more than 8 per cent.
