Stock Market Live Updates: The GIFT Nifty, a potential indicator of how Indian equity indices, Sensex and the Nifty 50 indices are likely to begin trading, fell as much as 1,000 points in early ticks on Monday, April 7, indicating a possible start for the benchmark index near the March 4 lows of 21,964.
The Nifty 50 had made a recent swing low of 21,964 on March 4, before a 1,900 point recovery. As of Friday’s close, the index had given up 50 per cent of that recovery.
Markets are reacting to the sell-off seen in the US markets on Friday, as the two-day rout took the overall market capitalisation erosion of over $5 trillion.
Global Cues
Asian shares nosedived on Monday after the meltdown Friday on Wall Street over US President Donald Trump’s tariff hikes and the backlash from Beijing.
US futures also signaled further weakness. The future for the S&P 500 lost 4.2 per cent while that for the Dow Jones Industrial Average shed 3.5 per cent. The future for the Nasdaq lost 5.3 per cent.
Tokyo’s Nikkei 225 index lost nearly 8 per cent shortly after the market opened and Australia’s S&P/ASX 200 tumbled more than 6 per cent.
South Korea’s Kospi lost 4.4 per cent.
Oil prices sank further, with US benchmark crude down 4 per cent, or $2.50, at $59.49 per barrel. Brent crude, the international standard, gave up $2.25 to $63.33 a barrel.
On Friday, Wall Street’s worst crisis since Covid slammed into a higher gear. The S&P 500 plummeted 6 per cent and the Dow plunged 5.5 per cent. The Nasdaq composite dropped 5.8 per cent.
The losses came after China matched President Donald Trump’s big raise in tariffs announced last week, upping the stakes in a trade war that could end with a recession that hurts everyone. Even a better-than-expected report on the US job market, usually the economic highlight of each month, wasn’t enough to stop the slide.
