Ganesh Chaturthi Joy Turns Nightmare: US Tariff Triggers Bloodbath, Over 1,400 Stocks Sink in Opening Trade
Mumbai(The Uttam Hindu): The Indian stock market witnessed a devastating crash on Thursday, a day after the US imposed a 50% tariff on Indian imports, sending shockwaves across Dalal Street. The impact was immediate and brutal—investors rushed into a selling spree, triggering a market-wide bloodbath.
After reopening post the Ganesh Chaturthi holiday, the Bombay Stock Exchange (BSE) Sensex plummeted 657 points at the opening bell, touching 80,124, while the Nifty tumbled over 200 points, sliding to 24,512.
The market meltdown came on the heels of US President Donald Trump’s administration announcing an additional 25% tariff on Indian goods late Wednesday. With markets closed for the festival, the shock surfaced on Thursday morning, hammering investor sentiment.
The carnage was led by IT, tech, and banking stocks, which collapsed under heavy selling pressure. On the BSE, nearly 1,458 stocks traded in the red, compared to only 1,023 in the green.
Among the worst-hit were HCL Tech (–2.30%), Power Grid (–1.50%), Sun Pharma (–1.40%), TCS (–1.30%), and HDFC Bank (–1.25%). Giants like Infosys, ICICI Bank, Reliance, Tata Motors, and Mahindra & Mahindra also faced steep declines. Midcap and smallcap stocks were hit even harder, with many tumbling between 3% to 5%.
Still, a few outliers managed to resist the storm—Hero MotoCorp, Asian Paints, and Titan traded in the green. However, experts warn that unless positive signals emerge on the tariff front, volatility and investor anxiety will continue to dominate the markets.
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