The Indian stock market slipped back into negative territory on Wednesday, April 9, reversing the brief recovery seen on Tuesday. Concerns triggered by US President Donald Trump’s announcement of reciprocal tariffs continued to pressure investor sentiment.
At 10:35 AM, the BSE Sensex had dropped by 417.12 points (0.56%), falling to 74,008, while the NSE Nifty opened lower by 161.85 points (0.72%), settling at 22,374.00.
The downturn follows Monday’s sharp crash that was sparked by renewed US trade tensions, which continue to shake global markets. The announcement of tariffs has led to fears of a global slowdown, weakening investor confidence in Indian equities.
Among the 30 key stocks on the Sensex, Sun Pharma saw the biggest drop, down 2.19% and trading at ₹1651.80. It was followed closely by Tech Mahindra, which slipped 2.25% to ₹1285.35, and Infosys, which fell 2.34% to ₹1395.85.
Despite the broader market decline, a few stocks bucked the trend and posted impressive gains. Binani Ind and NDA Securities each soared by 20.00%, while Pentokey Organy rose by 15.63%, and HB Leasing Fin jumped 15.37%. These gains were witnessed even as frontline blue-chip counters saw brisk selling.
By mid-session, the Sensex was down 463.23 points at 73,763.85, while the Nifty50 index dropped 145.5 points to 22,390.35. In the Nifty50 index, only 8 stocks traded in green, while 42 stocks were in the red, indicating widespread selling across sectors.
Additionally, several stocks reached new milestones. On the upside, TECIL Chemicals, Jattashankar Industries, NACL Industries, Lerthai Finance, and Gujarat Natural hit 52-week highs, showing strong upward momentum despite the weak broader market.
On the downside, stocks like Boston Bio Systems Ltd, SRU Steels, A F Enterprises, Ashnisha Industries, and Mayur Uniquoter hit new 52-week lows, reflecting their continued struggle in the current bearish trend.
Experts suggest that the ongoing trade tensions between the US and other countries, especially China and India, have created a cautious environment for investors. Until there is more clarity on global economic policies, markets are expected to remain volatile.
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