Bloodbath on D-Street: Investors lose Rs 19 lakh crore within minutes as Sensex sinks 3,000 pts, Nifty below 22,000

The Indian stock market tanked for the second straight session today after global markets crashed on recession worries and risks of a full-blown trade war post President Donald Trump's 'Liberation Day' announcements on April 2. Sensex crashed 3000 pts to 72,329 and Nifty tumbled 971 pts to 21,932. Investor wealth slipped by Rs 19 lakh crore to Rs 383.95 lakh crore today against Rs 403.34 lakh crore in the previous session. 

All Sensex stocks were trading in the red. Tata Steel, Tata Motors, HCL Tech, L&T, Tech Mahindra and Infosys were the top losers falling up to 10%. 

Midcaps and smallcaps were trading deep in the red in the current session. On BSE, the midcap index crashed 1695 pts to 38,813 and the small-cap index fell 2525 pts to 43,341. 

Shrikant Chouhan, Head- Equity Research, Kotak Securities said, "Why the market fell today mainly due to we see a disconnect between how the US is looking at the reciprocal tariff regime and how the market is viewing the same. The market is facing an unusual environment of tariffs and retaliation, which will create uncertainties and keep the market volatile and vulnerable until the further announcement on April 9."

On a sectoral basis, market was also a sea of red. All 19 BSE indices were down with IT, auto, metals and capital goods being the top losers.  

IT indices slipped for the third straight session after Trump announced tariffs on trading partners on April 2. The BSE IT index slipped 1851 points to 31,223 against the previous close of 33,075. 

Similarly, Nifty IT index tumbled 5.66% or 1893 pts to 31,617. 

Commenting on the market crash, Pranay Aggarwal - Director & CEO of Stoxkart said, "Today’s Black Monday has shaken Indian markets, but investors and traders must stay calm. Investors should avoid panic selling, continue SIPs, and consider buying quality stocks at discounted prices. Review portfolios and maintain diversification. Traders must prioritize capital preservation, stick to their trading plans, and avoid overtrading. Volatility brings opportunity, but only with strong risk management. Use proper stop-losses and position sizing. Monitor global cues like the US markets and crude. Remember, 'This too shall pass.' Focus on process over profit, and don’t hesitate to lean on trusted communities or analysts for clarity during uncertain times. Stay disciplined and strategic."

Market breadth was in the red. Out of 3438 stocks traded, 3065 slipped into losses. Around 262 stocks could rise while 111 stocks remained unchanged.

On Friday, US markets tumbled with NASDAQ Composite Index slipping 962 pts or 5.82% to 15,587 and S&P 500 index ending 322 points lower at 5074. 

Dow Jones Industrial Average plunged 2231 points or 5.50% to 38,314 on Friday.

Asian markets 

Meanwhile, Japanese stock futures trading were suspended briefly today due to a circuit breaker. 

Japan's Nikkei was down 2278 pts at 31,254. Hang Seng crashed 2396 points to 20,453. Taiwan Weighted index too fell 2063 pts to 19,234. 

Singapore's Strait Times slipped 117 pts to 3,825. Kospi was down 21 pts to 2465.