Sensex, Nifty opens in red as Trump’s 26% tariffs on India come into effect

The benchmark BSE Sensex and NSE Nifty opened in red as US President Donald Trump’s 26% tariffs on India came into effect. This follows a market rally on Tuesday, following a severe market crash on Monday amid rising global trade tensions following tariff hikes by the United States.

The Sensex previously closed 1,089.18 points in the green, or 1.49 per cent up, reaching 74,227.08, while the Nifty was up by 374.25 points, or 1.69 per cent, in the green, closing at 22,535.85.

Global markets also previously fell with the S&P 500 closing below 5,000 for the first time in nearly a year on Tuesday, and the companies on the index have lost $5.8 trillion in market value since Trump unveiled the tariffs last Wednesday. This was the deepest four-day loss since the benchmark’s creation in the 1950s.

Meanwhile, a sell-off across Asian markets resumed on Wednesday after a brief respite. Japan’s Nikkei was down by more than 3% and South Korea’s won currency slid to a 16-year low.