The stock market had further decline on Tuesday March 4, 2025 as US President Donald Trump assured that the tariffs he plans to implement will be effective as scheduled. At 12:30 pm IST, BSE Sensex was at 72,935.50, down 150.44 points or 0.21% and NSE Nifty was at 22,068.70, down 50.60 points or 0.23%.
Bajaj Finserv was the worst performing stock among the Sensex companies, declining 2.43% to ₹1,793.60. Other major losers were Nestle India, which declined 2.41% to ₹2,133.10 and HCL Technologies, which declined 1.78% to ₹1,544.85. Nonetheless, 12 Sensex stocks were positive.
The Nifty sectoral indices also posted significant losses, with Nifty Auto Index plummeting 1.20% to 20,291.40, while Nifty FMCG fell 1.06% to 50,249.80. The Nifty Midsmall IT & Telecom Index also declined by 0.82%, closing at 8,698.90.
President Trump reiterated his position to increase tariffs on China to 20% claiming that there was ‘no way’ he could negotiate anymore, in a bid to stop fentanyl imports into the United States. Also, tariffs on Canada and Mexico were to take effect on the same day.
The market opened on the negative side very early, especially for the IT, telecom and real estate stocks. At 9:20 am IST, the BSE Sensex had already eroded 341.82 points or 0.47% and the Nifty had eroded 132.80 points or 0.6%. However, some stocks like SBI, ICICI Bank and HDFC Bank tried to gain, but the market as a whole could not rise due to tariff issues.
