Sensex and Nifty Suffer Biggest One-Day Fall in 10 Months Amid Global Trade Tensions:

Indian equity markets saw their sharpest decline in 10 months on April 7, with fears of a global trade war and potential recession triggering a widespread selloff. The Sensex closed at 73,137.90, down 2,226.79 points (2.95%), while the Nifty 50 ended at 22,161.60, down 742.85 points (3.24%).

The meltdown was triggered by US reciprocal tariffs and China's retaliatory measures, which rattled global investor sentiment. The erosion in investor wealth was significant, with the market capitalization of BSE-listed firms falling by over ₹12 lakh crore, dropping from ₹403 lakh crore to ₹390 lakh crore.

Global Markets in Freefall
The turmoil was not limited to India. Wall Street ended in deep red on Friday, confirming that the Nasdaq Composite had entered a bear market, and the Dow Jones slipped into correction territory. Asian indices also saw their worst intraday drops in over 16 years:

Hang Seng fell over 15%, its biggest single-day drop since 2008.

Taiwan Weighted Index plummeted nearly 11%, its largest fall on record.

Tata Group Stocks Take a Hit; Metal, Realty Lead Sectoral Losses
The Tata Group saw a combined market cap loss of ₹1.28 lakh crore across six Nifty-listed companies.
Top Nifty Losers:

Trent

Tata Steel

JSW Steel

Hindalco Industries

Shriram Finance

L&T

Top Gainer: Hindustan Unilever

All sectoral indices ended in the red.

Metal index: down 6.7%

Realty index: down 5.6%

Others (Media, PSU Bank, Auto, Energy, IT): fell between 2.5% to 4%

BSE Midcap and Smallcap indices underperformed, losing 3.4% and 4%, respectively.

Massive Selloff Pushes 770+ Stocks to 52-Week Lows
Over 770 stocks hit 52-week lows on the BSE, including notable names like:

Siemens

Jindal Saw

Punjab and Sind Bank

Thermax

DLF

Happiest Minds

Godrej Properties

Bharat Forge

Indiamart Intermesh

Swan Energy

Market Outlook and Technical View
Aditya Gaggar, Director at Progressive Shares, explained:

“Trump’s tariffs triggered a global equity meltdown, and Indian markets were no exception. The selloff was broad-based, with Metal and Realty stocks witnessing sharp declines.”

He added that immediate support for the Nifty lies at 21,750, while resistance is seen at 22,300. In the short term, market direction will hinge on tariff-related developments. Positive news could spark a rebound, while continued negativity might deepen the slide.