Sensex, Nifty Open Lower Amid Global Sell-Off Following President Trump’s Tariffs

Indian stock markets opened lower on Friday, following a global sell-off triggered by the reciprocal tariffs announced by US President Donald Trump.

At 9:23 AM, the Sensex dropped 544 points or 0.71%, settling at 75,750, while the Nifty declined by 194 points or 0.82%, reaching 23,059.

Selling Pressure Hits Midcap And Smallcap Stocks

Midcap and smallcap stocks were under heavy selling pressure in early trade.

The Nifty Midcap 100 index fell by 669 points or 1.34%, standing at 51,464, while the Nifty Smallcap 100 index dropped 253 points or 1.56%, reaching 16,001.

Almost all sectors experienced declines. Auto, IT, PSU banks, pharma, FMCG, metal, realty, and energy sectors were the major laggards.

The finance services sector was the only one showing gains in the early session.

Top Gainers And Losers In Sensex Pack

Among the top gainers in the Sensex pack, HDFC Bank, Bajaj Finance, Bharti Airtel, and M&M saw some positive movement.

On the other hand, Tata Motors, Tata Steel, L&T, IndusInd Bank, Maruti Suzuki, Reliance Industries, Sun Pharma, Infosys, and Tech Mahindra emerged as the biggest losers.

Global Markets React To President Trump’s Tariffs

Global markets also experienced significant selling pressure following President Trump’s tariff announcement.

The US stock markets saw a massive sell-off on Thursday, with the Dow Jones Industrial Average dropping nearly 4% and the Nasdaq falling by almost 6%.

Asian markets also opened lower, with Tokyo, Bangkok, and Seoul trading in the red, reflecting the global risk-off sentiment.

FII Selling Continues, Domestic Investors Remain Net Buyers

On the institutional front, Foreign Institutional Investors (FIIs) continued their selling streak for the fourth consecutive session on April 3, offloading equities worth Rs 2,806 crore.

In contrast, Domestic Institutional Investors (DIIs) remained net buyers for the fifth consecutive day, purchasing equities worth Rs 221.47 crore.

Market observers noted that the immediate resistance for Nifty is seen at 23,350, followed by 23,600.

A breakout beyond these levels could trigger a continuation of the uptrend, targeting the 200 DSMA range of 24,000–24,100.

While the index may remain range-bound in the near term, traders are advised to focus on stock-specific opportunities.

Sameet Chavan, Head of Research at Angel One, commented, “While the index may remain range-bound, stock-specific trades are offering better opportunities, and traders should focus on individual names for potential gains.”

Also Read: Stock Market Ends Lower As Investors Take Cautious Approach On US Tariffs