Mumbai/New Delhi, Feb 11 (UNI) India’s benchmark indices on Tuesday nosedived as the BSE Sensex fell over 1,018 points on wide-spread selling mainly due to worries over escalating tariff war after Trump imposed 25 percent import tariff on Steel and aluminium that would impact India’s business prospects.
In these five trading sessions, over 18 lakh crore of BSE market capitalisation has been wiped out, according to estimates available.
The NSE Nifty also fell 309.80 points to close the day at 23,071.80.
According to sources in the trading community, the mood in the market continues to be sombre due to US trade policies and tariffs, coupled with domestic economic growth concerns and persistent selling by Foreign Institutional Investors (FIIs).
Prime Minister Narendra Modi is scheduled to meet US President Donald Trump on his visit to US over next 2-3 days and investors are anticipating some relief or clarity in the trade policies, sources said.
The mid-cap and small-cap indices also fell 2.88 percent and 3.40 percent respectively. In the 30-share BSE Sensex, shares of 29 companies ended in red from their previous closure while shares of only company that is Bharti Airtel rise and ended in green.
The losers were Zomato by 4.91 percent to Rs 216, Tata Steel by 2.84 percent to Rs 130.29, Tata Motors by 2.70 percent to Rs 677 and Powergrid by 2.68 percent to Rs 261.50.
The sole gained was Bharti Airtel by marginal 0.01 percent to Rs 1693.
