Stock Market Today 09 Dec: The Indian stock market has been in turmoil since yesterday evening. The market closed lower yesterday, but today, a new tariff threat from Trump has triggered another decline in the Indian stock market. Following indications of an additional 25 percent tariff on rice imports into the US, the Indian stock market opened with heavy selling pressure. The Nifty 50 Index opened at 25,867.10, down 93.45 points or 0.36 percent, while the BSE Sensex started day at 84,742.87, down 359.82 points or 0.42 percent.
Stock Market Today 09 Dec
Broad-based pressure was observed across all indices, with the Nifty 100 falling by 0.56 percent, the Nifty Midcap by 0.81 percent, and the Nifty Smallcap by 0.84 percent, indicating widespread selling. Sectoral indices on the NSE also showed weakness, with the Nifty Media, Metal, and IT indices declining by more than 1 percent. The Nifty Auto fell by 0.77 percent, the Nifty Pharma by 0.44 percent, and the Nifty PSU Bank by 0.72 percent.
Trump’s New Tariff Threat
The high-level US trade delegation’s visit to India has dashed any hopes of relief following Trump’s new tariff threat, further unsettling market sentiment. Experts believe the market has entered oversold territory and could react sharply to any positive trigger. It is worth noting that Trump indicated he might impose new tariffs on agricultural imports.
Why Market is Falling Today
- Tariff Indications on Rice
Trump has his sights set on India. US President Donald Trump indicated that he may impose new tariffs on agricultural imports from Canada, specifically Indian rice and fertilisers, as trade talks with both countries continue without significant progress.
- Rupee Weakens
The Indian rupee closed 16 paise lower against the dollar on Monday at 90.11. Rising oil prices, foreign capital outflows, and increased demand for the dollar continued to put pressure on the rupee. A weaker rupee is generally considered a negative sign for the stock market.
- Crude Oil Prices Rise
In the international market, the price of Brent crude rose by 0.13% to $63.83 per barrel. For a country like India, which is a major oil importer, rising crude oil prices increase both inflation and expenditure, negatively impacting the market.
Stock Market Today
The Indian stock market is in turmoil, with several top companies’ shares experiencing sharp declines. Let’s take a closer look at how much these stocks have fallen as of the time of writing this report.
| Company | Decline (%) |
|---|---|
| Asian Paints Share | 3.89% |
| TCS Share | 1.14% |
| Wipro Share | 1.22% |
| Tech Mahindra Share | 1.27% |
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