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Sensex, Nifty Tumble As Trade Worries Return To Haunt
(RTTNews) - Indian shares opened on a sluggish note Monday, with concerns over global trade and tariffs keeping investors on edge.
U.S. President Donald Trump accused China of violating their agreement and announced plans to double the tariffs on steel and aluminum imports to 50 percent in a clear message that the tariff and trade scenario will continue to be uncertain and turbulent.
Escalating tensions between Russia and Ukraine also curbed investors' appetite for risk.
The benchmark S&P BSE Sensex slumped 767 points, or 0.9 percent, to 80,684 in early trade while the broader NSE Nifty index fell 204 points, or 0.8 percent, to 24,548.
Among the prominent decliners, Tech Mahindra, HCL Technologies and HDFC Bank were down around 2 percent each.
Tata Motors dropped 1 percent on reporting 9 percent drop in May sales.
Dr Reddy's Laboratories fell about 1 percent amid an ongoing patent infringement suit filed by Novo Nordisk A/S over the patent of blockbuster diabetes medication.
EaseMyTrip fell nearly 2 percent after posting a sharp 59 percent QoQ decline in net profit for Q4 of FY25.
Apollo Hospitals rallied 2.3 percent on reports that it plans to sell its maternity and infant care unit.
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