Key Highlights:
Mumbai, April 4, 2025 – India’s benchmark index Nifty 50 experienced a steep decline in early trade on Thursday, sinking 277.65 points or 1.19% to hit 22,972.45 by 10:10 AM IST, amid a global market meltdown triggered by renewed U.S. tariff fears and weak overnight cues.
The index opened at 23,190.40, already 60 points lower than its previous close of 23,250.10, and continued its downward spiral throughout the first trading hour. A brief intraday high of 23,214.70 was witnessed before a sustained slide pushed the index below the psychological 23,000 mark.
Key Data at 10:10 AM
- Nifty 50 Level: 22,972.45
- Points Down: -277.65
- % Change: -1.19%
- Open: 23,190.40
- High: 23,214.70
- Low: 22,962.45
- Previous Close: 23,250.10
- 52-Week High: 26,277.35
- 52-Week Low: 21,281.45
What Triggered the Fall?
The early morning slide in Nifty 50 came amid a global equity selloff after U.S. President Donald Trump announced sweeping reciprocal tariffs on several nations. The announcement has reignited fears of a full-blown global trade war, shaking investor confidence across markets.
U.S. indices saw their biggest single-day decline since 2020, with the S&P 500 falling 4.9% and Nasdaq 100 dropping 5.5%, wiping out nearly $2.5 trillion in market value. This panic has spilled over into Asia, with Japan’s Nikkei 225, South Korea’s Kospi, and now India’s Nifty 50 showing red.
Sector-wise Impact
- Nifty IT and Nifty Auto bore the brunt of the fall due to their global exposure.
- Nifty FMCG and Nifty Pharma managed to stay flat, offering some defensive support.
- Bank Nifty also dropped close to 1%, reflecting risk-off sentiment.
Technical View
According to Rupak De, Senior Analyst at LKP Securities:
“Nifty’s break below 23,000 is significant. Unless the index manages to bounce back above 23,100 quickly, we may see further downside towards 22,850. The RSI remains weak, confirming a bearish bias.”
Market Sentiment
Traders and investors are watching global developments closely, particularly:
- Further announcements on U.S. tariffs
- Reactions from U.S. trade partners
- Upcoming RBI policy decision on April 9
- U.S. non-farm payrolls data due later today
These events could determine the next move for the market.
With Nifty 50 tumbling below the key 23,000 mark by 10 AM, Indian markets reflect growing anxiety over global economic tensions. The index’s trajectory for the rest of the day will depend on how global cues evolve and whether institutional investors step in to stabilize the situation.
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