Black Monday! Tariff war creates panic in global market, Indian stock market crashes

Black Monday: Domestic benchmarks Nifty and Sensex opened in the red zone with a huge decline due to global cues due to heavy selling in Asian markets and Wall Street. The Sensex opened at 72,004.23 with a fall of 3360 points on the BSE. At the same time, the Nifty on the NSE opened at 21,758.40 with a fall of 5 percent.

Immediately after the market opened, Tokyo's Nikkei 225 index fell nearly 8 percent and Australia's S&P / ASX 200 fell more than 6 percent.

South Korea's Kospi fell 4.4 per cent.

The Nasdaq fell 962.82 points, or 5.82 per cent, to 15,587.79 on Friday, confirming that the tech-heavy index is in a bearish trend compared to its record high closing of 20,173.89 on December 16.

Stock market crashes

Investors are moving away from their equity holdings in favour of safe-haven assets, as US President Donald Trump's retaliatory tariffs have raised fears of a global trade war, creating geopolitical tensions and economic uncertainty.

Friday's Market

On the last day of the trading week, the stock market closed in the red zone with a huge decline. The Sensex on the BSE closed at 75,364.69, down 930 points. On the other hand, the Nifty on the NSE closed at 22,904.45, down 1.49 per cent.

During trading, shares of Bajaj Finance, Tata Consumer, HDFC Bank, Nestle, Apollo Hospitals were included in the list of top gainers on Nifty. While shares of Hindalco Industries, ONGC, Tata Steel, Tata Motors, Cipla were included in the list of top losers.

All sectoral indices traded in the red. BSE Midcap and Smallcap fell by 3-4 percent.

Indian stock markets fell sharply on Friday, due to global sell-off due to fears of recession and tariff announcements by US President Donald Trump. Due to widespread sell-off, all sectoral indices fell in the red, metal, pharma and IT stocks registered a huge decline.

The market capitalization of all companies listed on the BSE fell by Rs 9.47 lakh crore to Rs 403.86 lakh crore.

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

Also Read: China Stocks Crash, Hong Kong Sees Worst Fall Since 2008 Amid Trade War Tensions