- By Aditya Pratap Singh
- Fri, 28 Feb 2025 10:03 AM (IST)
- Source:JND
Stock Market Today: The domestic benchmark indices crashed in early trade on Friday, the last trading day of February amid mixed global cues and heavy selling in IT stocks. BSE Sensex started trade, falling by 519.70 points, or 0.70%, at 74,092.73, while the Nifty50, the NSE's index, opened at 22,374, lower by 171.05 points, or 0.76%.
After a substandard beginning, the indices extended the loss and fell over 1% in the first hour of today's trading session. At around 9:57 am, Sensex was at 73,609.24, down 1003.19 points or 1.34%, while Nifty50 fell below 22,236, losing 309 points or 1.37%.
Top Losers And Gainers: From the 30 shares of the Sensex pack, shares of almost all major companies like IndusInd Bank, Mahindra & Mahindra, Tech Mahindra, Infosys, Tata Steel, HCL Tech, Tata Motors and Maruti fell and were trading in negative territory. While shares of Reliance Industries and HDFC Bank were the only two in positive territory.
Global Markets: All major Asian markets- Seoul, Tokyo, Hong Kong, and Shanghai were trading with significant fall. While the US markets were settled sharply lower on Thursday.
Why market is down today?
The traffic fears from the Donald Trump's administration are one of the major reasons behind the bearish trend in global stock markets. On Thursday, the newly elected United States president announced that 25% tariffs on imports from Canada and Mexico would take effect March 4. Previously the deadline was April 2. Donald Trump imposed a 10% tariff on Chinese goods and reiterated his commitment to impose a 25% tariff on European Union goods. The uncertainty around trade policies amid tariffs imposition is fueling volatility in the markets around the world.
- The exodus of foreign institutional investors is another major reason behind today's debacle.