Sensex, Nifty Open Lower On Weak Global Cues
(RTTNews) - Indian shares opened lower on Tuesday amid persistent FII selling, continuing uncertainty around tariffs and ongoing geopolitical tensions between Russia and Ukraine.
Sentiment was dented after U.S. President Donald Trump confirmed that 25 percent tariffs on goods from Mexico and Canada would come into effect on Tuesday and that he plans 20 percent tariffs on Chinese imports over fentanyl issues.
Further, Trump said reciprocal tariffs would take effect on April 2 on countries that impose duties on U.S. products, stoking fears of a global trade war. He also flagged new U.S. tariffs for imported farm products.
The benchmark 30-share BSE Sensex fell 301 points, or 0.4 percent, to 72,784 in early trade while the broader NSE Nifty index slid 104 points, or half a percent, to 22,014.
Among the prominent decliners, Titan Company, Tech Mahindra, HCL Technologies, Bajaj Auto and Nestle India dropped 2-3 percent.
On the positive side, IndusInd Bank, BEL and SBI rose 1-2 percent.
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