Sensex Falls by 200 Points, Nifty Slips 20 Points
Lucknow / Mumbai: On the second trading day of the week, the Indian stock market opened in the red. The BSE Sensex fell by nearly 200 points, reaching 73,930, while the NSE Nifty also witnessed a slight decline of 20 points, trading at 22,430. Earlier in the session, the Sensex had dropped by as much as 400 points, and the Nifty had slipped nearly 100 points.
This decline follows Monday’s bearish trend, when the Indian stock market had also closed in the red. Experts cite multiple factors contributing to this continuous fall.
Global Market Tensions Impacting Indian Stocks
One of the primary reasons behind the declining stock market is the increasing tension in global markets, which has significantly impacted IT stocks. As a result, the Indian stock market is witnessing a downturn.
Major Crash in U.S. Stock Market?
On March 10, the U.S. stock market experienced a sharp decline, marking its steepest drop since 2022. The S&P 500 and Nasdaq indices plummeted by nearly 4%, triggering panic among investors.
This selling pressure is believed to be linked to uncertainty surrounding former U.S. President Donald Trump. Recently, Trump avoided commenting on fears of a U.S. economic recession, further unsettling investors. The ripple effect of this turmoil in the U.S. market was also felt in India, leading to a 160-point drop in SGX Nifty and setting a bearish tone for Tuesday’s market opening in India.
IT Stocks See Major Decline
On Tuesday, Indian IT stocks faced significant losses. The Nifty IT index dropped by approximately 1.47%, while major technology stocks witnessed heavy selling pressure.
Among the biggest losers, Infosys shares plunged by 3.09%, dragging Nifty down by 52.65 points. Wipro saw a decline of 2.21%, Mphasis fell by 1.88%, Coforge dropped by 1.79%, and L&T Technology Services lost 1.69%. HCL Tech shares also dipped by 1.47%.
Among the major IT firms, Tata Consultancy Services (TCS) recorded the smallest decline, slipping by only 0.10%.
Expert Analysis
V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, commented on the situation, stating that Trump’s unpredictable stance on tariffs and recession concerns in the U.S. have fueled volatility in American markets. This, in turn, has had a cascading effect on Indian markets, particularly in the IT sector.
As global market trends continue to remain uncertain, investors are advised to remain cautious and track further developments closely.
