Stock market sees sharp decline amid

Mumbai

The Indian stock market is experiencing a turbulent session, with both Sensex and Nifty showing declines of over 1% each. As of the latest update, the Sensex was down by 1,324.71 points, at 76,090.2, while the Nifty dropped by 328.80 points to 23,190.55. Experts indicate that investor sentiment is being negatively affected by the impending US tariffs set to be announced on April 2.

Ajay Bagga, a market and banking expert, explained, "The uncertainty is hitting Indian markets today as the 'T-Day' looms, when the US announces tariffs on various countries and sectors." He further stated that Indian IT companies are facing selling pressure due to concerns over slower growth in the US market. "This could mute management guidance when these start getting released in mid-April onwards," he added.

Additionally, concerns about crude oil prices due to the situation in Iran, Russia, and Venezuela are further affecting market sentiment. Bagga noted, "Uncertainty, poor sentiment, and crude oil supply risks are the major drivers of the Indian markets being down today."

Experts believe that while the tariff impact has been largely priced in, the real effects will initially be worse, improving only as exclusions and concessions are announced. Akshay Chinchalkar, Head of Research at Axis Securities, noted that the volatility could continue until the exact extent of the tariffs is revealed.