The Nifty is trading with cuts of 300 points, while the Sensex is down nearly 1,000 points within the first hour of trade. The Midcap index is down over 1,200 points and has corrected over 21% from its all-time high in September 2024. The Smallcap index is also down over 2% and has corrected over 24% from its December peak.
Multitude of factors can be attributed to why the markets are down in today’s trading session.
The sell-off in the US markets on Thursday night is a big factor for the market fall. The Nasdaq fell over 550 points, and although the Dow Jones ended 200 points lower, it corrected over 650 points from the sessions’ highs.
The fall in the Nasdaq was triggered by a 8.5% drop in shares of Nvidia post its earnings. The Nasdaq sell-off has rubbed-off on the Nifty IT index, which is the top sectoral loser in today’s trading session.
Additionally, US President Donald Trump confirmed that the 25% tariffs on Canada and Mexico will take effect on March 4, along with an additional 10% tariff on Chinese imports. Reciprocal tariffs will go on as per schedule on April 2.
All sectoral indices are trading with losses in today’s session. Along with the Nifty IT, the Nifty Auto and Nifty Media indices are also trading with losses of over 2% each.
First Published: Feb 28, 2025 10:10 AM IST
