Big Stock Market Crash: Nifty 50, Sensex Nosedive Amid Global Selloff Triggered By Trump Tariff Jitters

Indian equity markets witnessed a brutal selloff on April 7, mirroring steep declines across global indices as investor panic spread over renewed tariff threats from former U.S. President Donald Trump.

The headline indices opened in the red with the Sensex opening over 5 per cent lower at 71,449.94. The Nifty 50 index also opened lower by 5 per cent at 21758.4 levels. The index slipped further to an intraday low level of 21,743.65 in early trade.

Headline Indices Mirror Declines In Asian Market

At the time of writing the BSE Sensex had tumbled 2726.86 points or 3.62 per cent to 72,637.83 levels, while the Nifty50 dipped 867.15 points or 3.79 per cent to 22,037.30.

The collapse followed a domino effect triggered by a sharp downturn in Asian markets. Japan’s Nikkei 225 plummeted close to 9 per cent within minutes of opening, hitting 30,792.74, a level not seen since October 2023. Japanese bank stocks suffered even more severe losses, with a sector index falling to 17 per cent, prompting temporary trading halts as circuit breakers were triggered. The Topix, Japan’s broader market index, dropped 8 per cent to 2,284.69.

The ripple effects extended across the region. China’s CSI300 blue-chip index slid 4.5 per cent, while Hong Kong’s Hang Seng was down 8 per cent, and Singapore’s benchmark index also plunged more than 7 per cent.

All Sectors Affected By Bloodbath

The severe decline seen in the benchmark Nifty was also seen in the performance of the sectoral indices. All major sectoral indices traded in the red in early trade with the Nifty Metal and Nifty IT declining 7.03 per cent and 5.34 per cent respectively. Broader market indices also traded under pressure with the Nifty SmallCap 100 falling 5.64 per cent and the Nifty MidCap 100 falling 4.49 per cent in early trade. The India VIX also traded in the green up by 51.58 per cent indicating high volatility.

All Nifty Stocks Turn Losers

All 50 constituents of the Nifty 50 index traded in the red in early trade, declining as much as 16.84 per cent. Trent Ltd, Tata Motors, Tata Steel and HCL Tech declined the most among all Nifty constituents, trading lower by 6.74 per cent to 16.84 per cent on the NSE.

Index heavyweights such as HDFC Bank, ICICI Bank and Reliance Industries dragged the index lower as they declined as much as 4.93 per cent on the NSE.