Mumbai (Maharashtra) [India], March 27 (ANI): Indian markets opened under pressure on Thursday after Donald Trump announced 25 per cent flat tariffs on US auto imports effective April 2nd 2025.
The Nifty 50 index opened at 23,422.45, dipping 64.40 points or -0.27 per cent, while the BSE Sensex opened at 77,089.12, losing 199.38 points or -0.26 per cent.
Donald Trump announced to impose 25 per cent tariff on US auto imports. The new levy marks a significant escalation in the president’s trade war. The most impacted countries are Canada, Mexico, Germany, South Korea, and Japan.
Experts stated that Indian markets will face volatility today due to trade disruptions caused by these tariffs and the volatility in the other major markets.
Ajay Bagga Banking and Market Expert stated “25 per cent US Auto tariffs are the raging issue this morning. US auto maker stocks are down in post trading hours by 2 per cent to 6 per cent. Japanese and South Korean auto makers are down this morning in Asian trading by a similar 2 per cent to 4 per cent. Broader markets are digesting this news and the impending announcements of reciprocal global tariffs on April 2nd as well as sectoral tariffs on pharmaceuticals and semi-conductors”.
He further added “Indian markets will face the global disruption volatility as well as the domestic monthly expiry related volatility today. Given the impending April 2nd announcements, markets will remain on edge. Caution continues”.
In the sectoral indices, India’s auto sector shares were also impacted, with Nifty Auto down by 1.37 per cent in opening. Except for Nifty FMCG, all other sectoral indices are under pressure.
In the Nifty 50 index, IndusInd Bank and Trent were among the top gainers, while the top losers included NTPC, Tech Mahindra, CIPLA, and Axis Bank.
Akshay Chinchalkar, Head of Research, Axis Securities said “Yesterday’s decline in the nifty ended a seven-day winning run for the benchmark. The market also finished below the previous day’s low, which means 23869 is now an important swing high. The decline looks more like a retreat to the near-vertical advance we have seen recently, than the beginning of a larger downturn, for now. 23275-23402 offers support while resistance lies at 23640 followed by 23720. What’s notable is that small- and midcap benchmarks are not as strong as the nifty, which means sentiment is more guarded”.
In other Asian markets, Japan’s Nikkei 225, Taiwan Weighted, and South Korea’s KOSPI index declined at the time of filing this report, while Hong Kong’s Hang Seng index surged 1.28 per cent. (ANI)
Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News
HINDI, MARATHI, GUJARATI, TAMIL, TELUGU, BENGALI, KANNADA, ORIYA, PUNJABI, URDU, MALAYALAM
For more details and packages
