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Indian equities opened lower on Tuesday, following a broad sell-off across Asian markets after Wall Street took a hit overnight
Sensex Today
Sensex Today: Equity benchmark indices opened with significant losses in Tuesday’s morning session, reflecting weak cues from global markets.
After a 371-point gap-down opening, the BSE Sensex hit a low of 73,668 but has since partially recovered. At 9:55 AM, the Sensex was down by 300 points, or 0.4%, at 73,800. Similarly, the NSE Nifty 50 dropped to a low of 22,315 and was down 80 points, or 0.4%, at 22,380.
Among individual stocks, IndusInd Bank saw a sharp decline of 20%, dropping to Rs 735, after the private lender revealed discrepancies in its derivative portfolio. The bank estimated a Rs 1,577 crore (approximately 2.35%) hit to its net worth.
Other major losers included Zomato, Infosys, Mahindra & Mahindra, Power Grid Corporation, Tech Mahindra, Bajaj Finserv, and Axis Bank. On the flip side, ICICI Bank rose 1%.
Technically, a rebound for the bulls could occur if the Nifty holds the 22,350/22,300 level. On the downside, failure to breach 22,520 or a fall below 22,245 could lead to a deeper decline, targeting 21,720, according to Anand James, Chief Market Strategist at Geojit Financial Services.
In the broader market, the BSE MidCap index slipped 0.5%, while the SmallCap index fell by 1.5%.
Global Cues
The decline was triggered by US President Donald Trump’s refusal to comment on whether a recession was imminent, amid growing worries over his tariff policies, which added to investor fears about global economic stability.
Dow Jones tanks 900 points, Nasdaq sees worst day since September 2022
The Dow Jones fell nearly 900 points on Monday, March 10, as Wall Street witnessed a painful trading session over looming fears of a recession in the US. This is the biggest single-day fall of 2025 for the 30-stock index.
The S&P 500 fell nearly 3% and has now declined to a six-month low, the lowest since September last year. The Nasdaq, the tech-heavy index also fell 4%, reporting its biggest single-day fall since September 2022.
At one point during the session, the Dow Jones was down 1,100 points.
With Monday’s fall, the S&P 500 is nearing correction territory, having declined 9% from its top. A 10% fall from the top indicates entering “correction territory.” The Nasdaq Composite has now corrected 14% from its recent peak, while the Russell 2000 is on the verge of entering a bear market, having declined 18% from its recent highs. A 20% fall from the peak indicates a “bear market.”
Ongoing uncertainty surrounding US tariffs has intensified inflation concerns in the world’s largest economy, further affecting global growth and dragging down equity markets across the globe year-to-date.
Reflecting similar losses, shares in the Asia-Pacific region plunged by as much as 3% in Tuesday morning trading. Japan’s Nikkei fell 2.6%, with the revised Q4 GDP update showing a growth of 2.2%, below the expected 2.8%.
The Taiwan Weighted Index also dropped nearly 3%, while both the Hang Seng and Kospi lost over 2% each. The Straits Times Index saw a decline of 1.5%, and Australia’s ASX 200 and All Ordinaries were down by up to 2% each.
