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GIFT Nifty Crashes 900 Points as Global Markets Panic Over Trade War

Global markets are in panic mode as U.S. President Trump's trade tariffs trigger massive sell-off. GIFT Nifty fell over 900 points, and Asian markets dropped sharply, hinting at a rough start for Indian markets.

By Aakash Khuman 08:57 AM Apr 07, 2025 IST

Japan's Nikkei sank 7.8 percent, while South Korea's benchmark lost 4.6 percent and Hong Kong's Hang Seng crashed 9 percent at 7.30 am IST.

Indian stock markets are expected to open with sharp losses on April 7, as global markets crashed due to rising trade tensions. U.S. President Donald Trump’s new tariffs have sparked fears of a global trade war, making investors nervous and pushing them towards safer investment options.

Also Read: Market turned red due to US tariff, FPI withdrew 10,355 crores from equities

GIFT Nifty and Asian Markets in Deep Red

At 7:20 am, GIFT Nifty dropped over 900 points or 3.6%, trading near 22,130. This indicates a weak opening for Sensex and Nifty 50. Wall Street futures also fell heavily, with S&P 500 losing 4.31% and Nasdaq dropping 5.45%.

Asian markets reacted strongly:

Japan’s Nikkei fell 7.8%

South Korea lost 4.6%

Hong Kong and Taiwan markets crashed 10%

Trump Unfazed by $6 Trillion Market Wipeout

Despite the massive global sell-off, Trump appeared unconcerned. He stated, “Sometimes you have to take medicine to fix something,” suggesting the tariffs were necessary.

Previous Week’s Indian Market Performance

Last week, Sensex and Nifty 50 fell by 2.6% each, with Nifty closing at 22,904—below the key 23,000 mark.
Midcap and Smallcap indices also took a hit:

Nifty Midcap 100: -2%

Nifty Smallcap 100: -2.6%

Sector-Wise Impact

The IT sector was the worst hit, plunging 9% due to fears of reduced tech spending in the U.S.
Nifty Metal index also fell by 7.5%, as trade war fears could hurt global industrial activity.

Technical View and Support Levels

The market has broken down from its recent consolidation zone, which means earlier support levels may now act as resistance.
According to experts, immediate support lies in the 22,800–22,700 range, and the index has slipped below its 20-day EMA—a bearish signal.

What to Watch Ahead

All eyes are now on the RBI meeting next week, where a possible rate cut could help support domestic growth.
Markets will also watch for any U.S. relief on tariffs and the beginning of the Q4 earnings season, which could guide future movements.

Also Read: China hits back hard at ‘Trump tariffs’ as global recession fears grow

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