Stock market: Sensex plunges 500 points, Nifty down by 0.6%, oil stocks worst hit
All the sectors opened in red as investors lost ₹5 lakh crore in 15 minutes. The oil stocks were worst hit, with IOCL seeing a dip of 3,12%.
Stock market today: Indian stock markets plunged on Thursday morning, hours after US President Donald Trump announced 25% tariff on imports from India, along with an unspecified penalty.
The Sensex fell around 500 points (-0.67%) in the early trade, settling around 80,975. Meanwhile, Nifty 50 lost over 150 points (-0.60%) to settle at 24,704.
All the sectors remained in red in the early trade as investors lost ₹5 lakh crore in 15 minutes, according to The Economic Times.
Also read: Nifty 50, Sensex today: What to expect from the Indian stock market on Thursday?
The oil stocks were worst hit, with IOCL seeing a dip of 3,12 per cent and BPCL falling by 2.42 per cent. Reliance Industries, Tata Motors, Mahindra & Mahindra, Bharti Airtel, Titan and State Bank of India were among the biggest laggards from the Sensex stocks.
The latest plunge comes hours after US President Donald Trump announced 25% tariff on Indian imports.
The Foreign Institutional Investors (FIIs) offloaded equities worth ₹850.04 crore on Wednesday, according to exchange data.
As per experts, sectors including textiles, pharmaceuticals, and automotive components, which are among the top exports to the US, are set to be impacted.
