Equity benchmarks Sensex and Nifty opened in the red in early trade on Tuesday, with IT stocks under pressure and President Donald Trump’s proposed ten per cent tariff on Friday causing fresh uncertainty in the global markets.
Both indices witnessed a drop after closing higher on Monday.
Sensex declined by over 720 points in early trade on Tuesday due to a bloodbath in the IT stocks, Trump’s newest tariff threat, and a US tech selloff triggering a free fall in Asian markets.
The weakening of the Indian rupee has unsettled domestic investors, while the Iran and US tensions have also triggered uncertainty among foreign investors, forcing them to move towards precious metals.
While the Sensex and Nifty tanked, S&P 500 futures rose 0.3 per cent as of 12:22 p.m. Tokyo time.
Japan’s Topix rose 0.1 per cent, Australia’s S&P/ASX 200 was little changed, Hong Kong’s Hang Seng fell 1.9 per cent, the Shanghai Composite rose 1.2 per cent, and Euro Stoxx 50 futures rose 0.2 per cent as the mixed response to President Trump’s trade tariffs caused fresh uncertainty in the global markets.
Gold prices fell on Tuesday, as investors booked profits after bullion rose more than 2 per cent on Monday, while the strong US dollar has also weighed on the metal.
According to the latest trends, the prices fell by nearly 1 per cent to $5,189 per ounce by 0125 GMT, snapping a four-session winning streak.
Besides, US gold futures for April delivery were down 0.3 per cent, having settled at $5,210.40. Spot silver also fell by 1 per cent to $87.38 per ounce.
Follow us
