Sensex Drops 548 Points On Tariff Worries; Nifty Dips Below 23,400

RTTNews | 108 hari yang lalu
Sensex Drops 548 Points On Tariff Worries; Nifty Dips Below 23,400

(RTTNews) - Indian shares fell notably on Monday and the rupee hit a record low of 87.95 per U.S. dollar as investors watched the latest developments on the tariff front.

U.S. President Donald Trump has announced new 25 percent tariffs on all steel and aluminum imports, raising fears of a brewing global trade war and its potential impact on the global economy.

As China's retaliatory tariffs on U.S. goods take effect today, Trump also stated that he would announce reciprocal tariffs on Tuesday or Wednesday that mirror the tariffs those countries charge on American exports.

"If they are charging us 130 percent and we're charging them nothing, it's not going to stay that way," he told reporters.

The benchmark S&P/BSE Sensex ended the session down 548.39 points, or 0.70 percent, at 77,311.80, after having fallen to a low of 77,106 earlier.

The broader NSE Nifty index hit an intraday low of 23,316.30 before closing down 178.35 points, or 0.76 percent, at 23,381.60.

ONGC, Titan Company, Tata Steel, Power Grid Corp and Trent fell 2-4 percent while Kotak Mahindra Bank surged 1.7 percent. Britannia Industries and Bharati Airtel both rose around 1 percent.

Mahindra & Mahindra lost 2.1 percent and Ola Electric Mobility tumbled 3.5 percent despite Goldman Sachs raising its target prices on these stocks post their Q3 results.

read more
Yen Falls As U.S. Court Blocks Trump's Tariffs

Yen Falls As U.S. Court Blocks Trump's Tariffs

The Japanese yen weakened against other major currencies in the Asian session on Thursday, after a U.S. federal court blocked U.S. President Donald Trump's attempt to impose sweeping reciprocal tariffs against its global trading partners under emergency powers, saying he exceeded his authority.
RTTNews | 1j 44min yang lalu
European Shares Set To Open On Buoyant Note

European Shares Set To Open On Buoyant Note

European stocks may open on a buoyant note Thursday as chip giant Nvidia reported better-than-expected earnings and revenue, and a U.S. federal court blocked President Donald Trump's attempt to impose sweeping tariffs under emergency powers, dealing a blow to a key part of his economic agenda.
RTTNews | 2j 27min yang lalu
Bank Of Korea Cuts Policy Rate By 25 Bps

Bank Of Korea Cuts Policy Rate By 25 Bps

The Bank of Korea lowered its benchmark rate by a quarter-point to mitigate downside pressure on the economy. The monetary policy board, governed by Rhee Chang Yong, unanimously decided to cut the Base Rate by 25 basis points to 2.50 percent. The bank had previously reduced the benchmark rate by a quarter-point in February.
RTTNews | 3j 11min yang lalu
Yen Falls Against Majors

Yen Falls Against Majors

The Japanese yen weakened against other major currencies in the Asian session on Thursday.
RTTNews | 3j 17min yang lalu
Sensex, Nifty Modestly Higher; IT Stocks Lead Gains

Sensex, Nifty Modestly Higher; IT Stocks Lead Gains

Indian shares opened on a firm note Thursday after technology giant Nvidia buoyed investors with a bullish outlook for the growth in artificial intelligence and the U.S. Court of International Trade blocked President Trump's proposed "Liberation Day" tariffs, saying he had overstepped his authority.
RTTNews | 3j 49min yang lalu
Australian Market Slightly Trims Early Gains In Mid-market

Australian Market Slightly Trims Early Gains In Mid-market

The Australian market is slightly trimming its early gains in mid-market moves on Thursday, reversing the slight losses in the previous session, despite the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,400 level, with gains in energy and technology stocks partially offset by a mixed performance in mining and financial stocks.
RTTNews | 4j 46min yang lalu
Asian Markets Mostly Higher

Asian Markets Mostly Higher

Asian stock markets are trading mostly higher on Thursday, despite the broadly negative cues from Wall Street overnight, after a U.S. federal court blocked US President Donald Trump's attempt to impose sweeping reciprocal tariffs against its global trading partners under emergency powers, saying he exceeded his authority. Asian markets closed mostly lower on Wednesday.
RTTNews | 5j 6min yang lalu
Sensex, Nifty Seen Higher As US Court Blocks Trump's Tariffs

Sensex, Nifty Seen Higher As US Court Blocks Trump's Tariffs

Indian shares look set to open higher on Thursday as investors react to encouraging industrial output data, upbeat Nvidia earnings and a U.S. court ruling blocking President Trump's "Liberation Day" tariffs, citing overreach of power.
RTTNews | 5j 41min yang lalu