Bloodbath on Indian Markets, Nifty opens at 1-year low, both indices down 5 per cent in opening

The Indian markets followed the path of the global bloodbath in stock indices and both the indices of India opened with heavy selling pressureThe Nifty 50 index tanked 5 per cent in the opening marking one of the highest falls since COVID during opening and opened at 2175840 points with a decline of 114605 points or 5 per centMeanwhile the BSE Sensex was down by 529 percent opening at 713798 with a decline of 398480 points or 529 percentExperts stated that the need of the hour is a reform package by the government to help the markets navigate this global selloff amid Trumps announcementsAjay Bagga Banking and Market Expert told ANI India will face the heat not due to domestic reasons but as an interlinked chain in the global portfolio flows India will need a fiscal monetary and reform package to protect the domestic economy from this global economic winter that is threatening to settle in The consequences of an EconomicNuclear policy which has announced the highest tariffs of a century on all trading partners are now coming home to roostHe further added Taking the cue from the USD 54 trillion 2day meltdown in the US markets we are seeing unprecedented selling in Asian markets with Taiwan which was closed on Thursday and Friday seeing a 20 per cent down day and Hong Kong seeing a 10 per cent cut and then some recoveryThe experts also noted that the economic situation needs a rollback by the Trump administration either as a postponement of the reciprocal tariffs or as some reduction However Trump Administration officials have stated that they see the tariffs being in place for the next few weeksmonthsIn the other Asian markets Japans Nikkei 225 index dropped sharply by 579 per cent Hong Kongs Hang Seng Index followed with a steep fall of around 10 per cent Taiwans Taiwan Weighted Index also saw a major slide losing 961 per cent in early tradeSouth Koreas KOSPI index was down by 414 per cent while Chinas Shanghai Composite fell by 65 per cent at the time of filing this reportAustralias benchmark index SampPASX 200 also registered a decline of 382 per cent indicating that the selloff was not limited to major manufacturing economies alone but had spread across the AsiaPacific regionNifty 50 did not perform well and remained down showing a strong bearish trend in the sector A big red candle indicated the dominance of sellers in the sector potentially pushing the price to a lower low Currently the price has broken one support level and is hovering towards the second A breakdown below this support would confirm the continuation of the downtrend in the sector said Sunil Gurjar SEBIregistered research analyst and founder of Alphamojo Financial ServicesThe impact of Trumps tariff announcement was also visible in the American markets Futures of the US stock index Dow Jones were down by 222 per cent suggesting a negative start for the US markets as wellThe price of Brent crude also declined to a 52week low and trading at USD 6397 at the time of filing this reportThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoeveratOptionskeyd0ddb8ef8f1a62a8cdd22fac27fc5ea7formatiframeheight90width728params