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Sensex Plunges 1,235 Points Amid Trump's Uncertain Tariff Plan; Nifty Nears 23,000

RTTNews | 8h 49min ago

Sensex Plunges 1,235 Points Amid Trump's Uncertain Tariff Plan; Nifty Nears 23,000

(RTTNews) - Indian shares tumbled on Tuesday, with selling seen across the board following U.S. President Donald Trump's announcement of trade tariffs on neighboring countries shortly after taking office.

Concerns over weak corporate earnings and continued foreign fund outflows also dampened sentiment.

The dollar rebounded as global markets grappled with a mixed set of signals from Trump.

He delayed tariff plans on Chinese goods but threatened to impose tariffs on two of US' immediate neighbors - Canada and Mexico.

Trump also ordered his administration to address unfair trade practices globally. The benchmark S&P/BSE Sensex slumped 1,235.08 points, or 1.60 percent, to 75,838.36 amid spike in volatility.

The broader NSE Nifty index closed at 23,024.65, down 320.10 points, or 1.37 percent, from its previous close.

Second-line stocks also followed suit, with the mid-cap and small-cap indexes on the BSE closing down 1.9 percent and 2 percent, respectively.

The market breadth was negative on the BSE, with 2,774 shares declining, while 1,202 shares advanced and 112 shares ended unchanged.

Among the prominent decliners, Adani Enterprises, ICICI Bank, Adani Ports, NTPC and Trent plummeted 3-6 percent.

Dixon Technologies fell nearly 14 percent, Zomato dropped over 10 percent and Newgen Software tumbled 16.6 percent after announcing their quarterly results.

One97 Communications lost 5.6 percent after Q3 contribution margin missed analyst estimates amid higher DLG (default loan guarantee) cost.

HDFC Bank ended little changed ahead of its earnings due Wednesday.

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Trump Halts Enforcement Of TikTok Ban For 75 Days

Trump Halts Enforcement Of TikTok Ban For 75 Days

President Donald Trump, on his first day in Office on Monday, signed an executive action as promised to delay enforcement of the ban on social media platform TikTok for 75 days. With the action, the U.S. Justice Department will be directed not to enforce the Protecting Americans from Foreign Adversary Controlled Applications Act, which was signed into law in April last year by former President.

RTTNews | 5h 5min ago

Weak Commodity Prices, Tariff Concerns May Weigh On Bay Street; Inflation Data In Focus

Weak Commodity Prices, Tariff Concerns May Weigh On Bay Street; Inflation Data In Focus

Canadian shares are likely to open lower on Tuesday on weak commodity prices and concerns about U.S. President Donald Trump's plans to impose 25% tariffs on goods imported from Canada from February 1. Data on inflation is likely to make a significant impact as well.

RTTNews | 6h 1min ago

German Economic Confidence Weakens In January

German Economic Confidence Weakens In January

German economic sentiment deteriorated more than expected in January as the economy remained in recession for the second straight year and inflationary pressure rose recently, results of a survey by the think tank ZEW showed Tuesday. The ZEW Indicator of Economic Sentiment fell to 10.3 from 15.7 in December. The reading was expected to drop moderately to 15.2.

RTTNews | 7h 57min ago

Yen Rises Amid BoJ Rate Hike Bets

Yen Rises Amid BoJ Rate Hike Bets

The Japanese yen recovered from recent losses against other major currencies in the Asian session on Tuesday, as traders started speculating that the Bank of Japan (BoJ) will raise interest rates at its policy meeting on Friday.

RTTNews | 9h 13min ago

FTSE 100 Up Marginally As Bank Stocks Gain

FTSE 100 Up Marginally As Bank Stocks Gain

U.K. stocks are marginally higher Tuesday morning, extending recent gains, as investors continue to assess the likely moves of Donald Trump, who was sworn-in on Monday as the President of the United States.

RTTNews | 9h 17min ago

French Stocks Up Slightly After Weak Start

French Stocks Up Slightly After Weak Start

French stocks are up marginally Tuesday morning, recovering after opening on a slightly weak note, as investors assess the possible moves of the Trump administration with regard to global trade and imposition of tariffs.

RTTNews | 9h 39min ago

DAX Drifts Lower As Auto Stocks Lose Steam On Tariff Concerns

DAX Drifts Lower As Auto Stocks Lose Steam On Tariff Concerns

German stocks are down in negative territory Tuesday morning, weighed down by losses in the automobile sector amid uncertainty over potential new tariffs following Donald Trump taking charge as U.S. President.

RTTNews | 9h 58min ago

European Shares See Slight Uptick At Open

European Shares See Slight Uptick At Open

European stocks edged up slightly in cautious trade on Tuesday after U.S. President Donald Trump refrained from imposing immediate tariffs on his first day back in office.

RTTNews | 10h 1min ago

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