Stock market crashes due to fear of trade war, investors lose Rs 10 lakh crore

Mumbai (The Uttam Hindu): Indian stock market is witnessing a big decline in Tuesday's trading session. All the market indices are trading in red. At 1:30 pm, Sensex was at 76,313 with a decline of 980 points or 1.27 percent and Nifty was at 23,072 with a decline of 308 points or 1.32 percent. Sensex fell more than 1000 points during the trading session.

All 30 companies in the Sensex remained in the red. Zomato, Powergrid, Tata Motors, L&T, Kotak Mahindra Bank, L&T, Tata Steel, Kotak Mahindra Bank, Bajaj Finserv, HUS and UltraTech Cement were the top losers. The reason for the fall in the market is the imposition of a 25 percent tariff on imported steel and aluminum products by US President Donald Trump. All the market indices are trading in the red. Auto, IT, PSU Bank, FMCG, Realty, Energy and Infra are seeing the biggest decline.

Asian markets are trading mixed. Tokyo and Seoul markets are in the green. Hong Kong, Shanghai, Bangkok and Jakarta markets are in the red. US markets closed in the red on Monday. Crude oil is seeing a rise. Brent crude is up 0.37 percent at $76.15 per barrel and WTI crude is up 0.35 percent at $72.57 per barrel. The market opened with a decline. At 9:30 am, the Sensex was at 77,138, down 172 points or 0.22 percent, and the Nifty was at 23,315, down 69 points or 0.30 percent.