Market Crash Today: Nifty falls 4%, down below 21,900; all sectors and stocks in red

Indian benchmark indices witnessed a sharp sell-off on Monday, April 7, with both the Sensex and Nifty opening with a massive gap-down, tracking a global rout in equities triggered by mounting fears of a global trade war. The sharp fall came in the wake of concerns surrounding US President Donald Trump's aggressive tariff policies that have unsettled investor sentiment across global markets.

At the opening bell, the BSE Sensex nosedived 3,379.19 points or 4.48 percent to 71,985.50, while the Nifty 50 plummeted 901.05 points or 3.93 percent to 22,003.40. This is the worst opening for the Indian markets since March 2020.

The broader markets bore an even heavier brunt, with the Nifty Midcap index dropping 4 percent and the Nifty Smallcap index shedding 5 percent. India Vix also rose over 52 percent. NSE companies erased market-cap worth ₹20 lakh crore

The freefall in Indian equities echoed the turmoil seen across global financial markets. On Sunday evening, Wall Street futures were down nearly 4 percent, sending shockwaves through Asia-Pacific markets. Benchmarks across the region saw declines ranging between 4 percent and 6 percent, with traders pricing in the risk of an intensifying standoff between the US and its major trading partners.

Market experts noted that the sharp decline in Indian equities was part of a larger risk-off sentiment that has taken hold globally, as investors brace for the economic consequences of an escalating trade conflict. Traders are likely to stay cautious in the near term as developments on the global front continue to unfold.

Sectors and Stocks

All stocks on the Nifty 50 index opened in the red, underlining the scale of the market-wide panic. 80 percent see declines of over 4 percent. Trent was the top loser, down over 13.5 percent followed by Tata Steel, down over 9 percent, Tata Motors, down 7.6 percent, and ONGC and Hindalco, down over 6 percent each.

HCL Tech, L&T, Tech Mahindra, Infosys, Bajaj Auto, and TCS also shed over 5 percent each. Meanwhile, Hero Moto, Adani Enterprises, Jio Financial, Shriram Finance, Wipro, RIL, Adani Ports, Coal India, Kotak Bank, and IndusInd Bank lost over 3.5 percent each.

12 Nifty stocks were trading at their respective 52-week lows. These included - Tata Motors, Titan, Bajaj Auto, TCS, RIL, ONGC, Hindalco, L&T, Hero Moto, Dr Reddy's, Infosys, and Cipla.

Sectorally, the carnage was led by metal stocks, with the Nifty Metal index plunging over 7 percent amid fears of reduced global demand and retaliatory tariffs. The Nifty IT index also dropped close to 6 percent as global recessionary concerns weighed on export-oriented companies.

Meanwhile, Nifty Auto and Nifty Realty fell 5 percent each. Moreover, Nifty Bank, Nifty Financial Services, Nifty PSU Bank, and Nifty Private Bank lost over 3 percent each. Nifty Pharma and Nifty FMCG fell the least, down 2.7 percent and 1.6 percent, respectively.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.