Mumbai : Indian benchmark equity indices, the BSE Sensex and Nifty50, dropped at the market open on Monday, tracking steep declines in global markets amid fears of an escalating global trade war triggered by US President Donald Trump’s tariff policies.
At 13.15 pm, the BSE Sensex plunged 3305.72 points, or 4.39%, to 72,058.97 points while the Nifty50 tumbled 1,058 points, or 4.6%, to 21,645 points, marking its steepest drop since early June.
The market capitalisation of all listed companies on the BSE declined by Rs 20.16 lakh crore to Rs 383.95 lakh crore.
Indian stock markets are reflecting the turmoil in global markets, where Wall Street futures were down by around 4% on Sunday evening, while markets in the Asia-Pacific region plunged between 4-6%, amid concerns over a growing trade war between the US and the rest of the world.
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.