Sensex today Schedule market updates: Sensex Falls 350 PTS, NIFTy is less than 23,350; Minerals, oil and losing losing gas
Why did the stock market decreased today?
- Trump’s tariff leads to fear of trade war
The contraction comes after Trump’s decision at the end of the week to impose a tariff on Canada, Mexico and China, which raises concerns about its potential impact on global economic growth.
During the weekend, Trump implemented his previous threats, imposed 25 % fees on Canada and Mexico and imposed it by 10 % on China, pointing to this step when necessary to reduce the flow of migrants and fentanel in the United States
The US dollar has risen to a record level against the Chinese yuan in maritime circulation, and reached its strongest level against the Canadian dollar since 2003, reaching its highest level against Mexican Bizo since 2022.
Meanwhile, the Indian rupee weakened more than $ 87 per US dollar for the first time on Monday, as Trump’s tariff measures on the main commercial partners fueled a gathering in the US dollar.
Treasury revenues in the United States increased for two years to 3.6 basis points to 4.274 %, reaching the highest level per week, amid fears that customs tariffs can nourish inflation in the United States and postpone interest rate cuts.
This rise in US Treasury revenue is a challenge to emerging economies such as India, as capital revenues often attract the most dangerous assets in these markets, which leads to a decrease in the value of the currency and increased borrowing costs.
Akshay Chenchakar, head of research at Axis Securities, has said that today the opening of the gap is witnessed due to sales in stock and regional market futures, including Gift NIFTY, after the declaration of customs tariffs. The immediate support is expected to be in the range of 23,246 – 23,267, with more support about 23,108, while resistance is seen in the near term between 23632 and 23657.
On the weekly graph, a “oudy” pattern was formed inside the Ichimoku cloud, on the occasion of the first occurrence since March 2022. However, given this, based on two decades of data, February was the worst month for NIFTY with average and Shinchard added that the loss is 1 %, we can expect higher fluctuations than average.
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