Stock market

Mumbai: Indian Stock Market opened on a strong note on Tuesday with both Sensex and Nifty trading in green a day after the market registered massive losses amid a global selloff over US President Donald Trump’s tariff war.

At 9.55 am, the Nifty 50 at National Stock Exchange was at 22,443, up by 280 points, while the BSE Sensex was at 74,027, up by 880 points. At the opening bell, Sensex was at 74,331.00, up 1,193.10 points or 1.63 per cent while the Nifty 50 was up 385.50 points or 1.74 per cent at 22,547.10. At 9.55 am, most companies in the BSE Sensex were trading in green. Tata Steel and Tata Motors were among the top movers.

All the sectoral indices opened in green, exhibiting strong investor sentiment a day after the market fell significantly due to the tariffs imposed on India by the Donald Trump-led US administration.

At NSE, the major gainers were Titan Company, Tata Steel, Hindalco Industries, Tata Motors, Shriram Finance. On the BSE, Midcap and Smallcap indices were up 2 per cent each.

Akshay Chinchalkar, Head of Research at Axis Securities said the Nifty suffered its biggest fall for the year yesterday, but the over 400-point recovery at the close was encouraging for bulls. “The rebound resulted in a bullish belt-hold line formation with the 22572-22685, the next upside hurdle area. On the downside, the 22015-22130 area is critical,” he said, according to ANI.

On Monday, stock markets crumbled with Sensex sinking by 2,226.79 points – its steepest single-day decline in 10 months – as a global market carnage following Trump’s tariff hikes and retaliation from China fanned fears of economic slowdown. All Sensex shares, except for Hindustan Unilever, ended with losses. Tata Steel fell the most by 7.33 per cent followed by Larsen & Toubro which cracked 5.78 per cent.

Speaking on Monday’s crash, Vinod Nair, Head of Research, Geojit Investments Limited, according to PTI, said, “The market tumbled as the carnage over high US tariffs and the retaliation by other countries may kickstart a trade war. Sectors like IT and metals have underperformed relative to the broader market due to the risk of high inflation with slower growth that may result in a potential recession in the US.”

As many as 3,515 stocks declined while 570 advanced and 140 remained unchanged on the BSE. Notably, 775 stocks hit their 52-week lows while 59 firms were at 52-week peaks on the BSE.

“After US markets plunged on Friday, it was writing on the wall for other global equity indices which fell like a pack of cards amid fears that Trump’s policies on reciprocal tariffs may lead to recession and higher inflation in the US going ahead.

“Already, commodity prices of crude oil and several metals are seeing a downward slide, which is an indication of a slackening demand if the current trend persists,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.