Fri Feb 28 05:15:28 UTC 2025: ## Stock Markets Plunge on New US Tariffs

**Mumbai, February 28, 2025** – Indian stock markets experienced a significant downturn on Friday, mirroring global market trends following the announcement of a 10% tariff increase on Chinese goods by the US. The BSE Sensex plummeted 790.87 points in early trade, settling at 73,821.56, while the NSE Nifty dropped 231.15 points to 22,313.90.

Several major Sensex stocks, including IndusInd Bank, Mahindra & Mahindra, Tech Mahindra, HCL Tech, Infosys, Tata Steel, Tata Motors, and Maruti, suffered heavy losses. Only Reliance Industries and HDFC Bank showed gains.

The negative trend followed sharp declines in Asian markets (Seoul, Tokyo, Shanghai, and Hong Kong) and a significant drop in US markets on Thursday. Analysts attribute the market volatility to the uncertainty surrounding US trade policies. V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, noted that President Trump’s tariff announcements have consistently impacted markets, and the latest move confirms a strategy of using tariffs to negotiate favorable settlements.

Foreign institutional investors (FIIs) sold equities worth ₹556.56 crore on Thursday. Brent crude also dipped slightly, falling 0.47% to $73.69 a barrel. The overall market sentiment reflects concern over the escalating trade war and its potential global economic impact. While the Sensex recovered marginally to close at 74,612.43 on Thursday, the Nifty continued its downward trend. Further declines are anticipated in Asian markets following President Trump’s confirmation of impending tariffs on Canada and Mexico, according to Vikas Jain, Head of Research at Reliance Securities.

Read More