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Trump's Steel and Aluminum Tariffs Impact Market; Sensex, Nifty End in Red
The Business Guardian
|February 11, 2025
The Indian stock market ended Monday's session deep in the red, as US President Donald Trump's announcement of a 25 percent tariff on steel and aluminum imports to the US rattled global investor sentiment.
The benchmark Sensex plunged 548.39 points to close at 77,311.80, while the Nifty dropped 182.85 points, settling at 23,381.60.
Market breadth was weak, with only 11 Nifty companies advancing, while 39 declined. Kotak Bank, Bharti Airtel, Britannia, Tata Consumer Products, and HCL Tech emerged as the top gainers, while Trent, Power Grid, Tata Steel, Titan, and ONGC were the worst performers of the session.
The Indian rupee plunged to an all-time low of 87.96 against the US dollar, as fears of an economic slowdown grew following Trump's trade policy shift.
Market experts believe that the combination of a depreciating rupee, increased import costs, and weakening domestic demand could lead to prolonged bearish trends in Indian equities.
This story is from the February 11, 2025 edition of The Business Guardian.
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