Investors lose Rs 10 L cr as Trump tariffs sink indices

Investors’ wealth dropped by Rs 10 lakh crore on Friday as the BSE Sensex slumped over 900 points to crash below the 76,000 level due to an across-the-board sell-off, tracking weak global markets amid growing global trade war fears.

Advertisement

Besides, heavy selling in market heavyweights Reliance Industries, L&T and Infosys and a sharp correction in global crude prices, indicating recessionary fears, added to the gloom.

The 30-share BSE Sensex tumbled 930.67 points or 1.22% to settle at 75,364.69. During the day, it plummeted 1,054.81 points or 1.38% to hit an intraday low of 75,240.55.

Shares of pharma companies on Friday tumbled more than 11% amid reports that the Trump administration will soon announce tariffs on pharma imports. Trump has said that tariffs on pharma and semiconductors will be announced shortly.