Stock market in the present day: Nifty50 drops below 24,550; BSE Sensex down over 600 points as Donald Trump’s 50% tariffs hit India

Stock market in the present day (AI picture)

Stock market in the present day: Nifty50 and BSE Sensex, the Indian fairness benchmark indices, tanked in opening commerce on Thursday a day after 50% US tariffs got here into impact on India. While Nifty50 went below 24,550, BSE Sensex dropped over 600 points. At 9:27 AM, Nifty50 was buying and selling at 24,539.05, down 173 points or 0.70%. BSE Sensex was at 80,203.19, down 583 points or 0.72%.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “The 50% tariff imposed on India which has already come into effect will weigh on market sentiments in the near-term. But the market is unlikely to panic since the market will view this high tariffs as a short-term aberration which will be resolved soon. The U.S. treasury secretary Scott Bessant’s comment that “ at the end of the day India and U.S. will come together” signifies the doubtless end result. The market will low cost this end result with out panicking.”“The actual problem earlier than the market is the excessive valuations and the tepid earnings development. The robust pillar of help to the market is the aggressive shopping for by DIIs flush with funds. Any promoting by FIIs can be simply neutralised by the aggressive shopping for by DIIs. In the near-term, with the export sectors dealing with headwinds, sensible cash can be chasing pretty valued home consumption themes. Investors can contemplate shifting cash from over-valued smallcaps to the protection of pretty valued largecaps with concentrate on home consumption.“The S&P 500 reached a new record closing high on Wednesday ahead of Nvidia’s quarterly results, the week’s most anticipated Wall Street event, which will test the sustainability of AI-related companies’ current valuations.US stock futures and Nvidia shares fell after the semiconductor company’s revenue forecast failed to meet high expectations, affecting sentiment around the world’s highest-valued listed firm.The US currency showed weakness on Thursday as investors increased their positions anticipating a Federal Reserve interest rate cut in the coming month, following New York Fed President John Williams’ indications about a possible reduction.Crude prices decreased on Thursday as market participants evaluated US fuel consumption prospects near summer driving season’s conclusion, whilst monitoring potential oil supply changes amidst India facing strict US tariffs on Russian oil imports.Foreign portfolio investors sold shares worth Rs 6,516 crore net on Tuesday. Domestic institutional investors purchased Rs 7,060 crore net.(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)