Mumbai, India – Today, the Nifty 50, which serves as India’s benchmark stock index, took a notable hit during trading, dropping more than 145 points by 11:47 AM IST. Currently, the index is hovering around the 24,745 level, reflecting a widespread sell-off spurred by negative signals from global markets.
The market kicked off on a shaky note at (NIFTY 50) 24,818.55, falling below yesterday’s close of (NIFTY 50) 24,890.85, and continued to slide throughout the morning. So far, the lowest point of the day has been (NIFTY 50) 24,737.55, showcasing ongoing selling pressure and a bearish sentiment dominating the market.
The main driver behind today’s steep decline is the renewed anxiety over a potential global trade war. Last night, the US President announced hefty tariffs on various imports, including pharmaceuticals, which has unsettled investors around the globe. As a result, Asian markets are trading significantly lower, and US markets ended the day in the red.
This global challenge is adding to existing domestic worries that have been pressuring the market, such as ongoing foreign institutional investor (FII) outflows and recent concerns about increases in US H-1B visa fees, which are particularly affecting the IT sector.
The market breadth is clearly negative, with most Nifty 50 stocks trading in the red. Sectors with substantial international exposure, especially IT and Pharmaceuticals, are under the spotlight and are among the biggest losers. Selling pressure is also noticeable across other key sectors, including automobiles and healthcare.
Investors are encouraged to stay cautious as market volatility is likely to persist. The Nifty 50’s ability to maintain crucial support levels will be vital in shaping the near-term outlook.