Indian Stock Market Opens Lower on May 30, 2025; Sensex Down 140 Points, Nifty Below 24800. IT stocks witnessed a decline, primarily attributed to the reinstatement of Trump tariffs.
Stock Market: Trading commenced on Friday, May 30, 2025, with a downturn in the Indian stock market. The BSE Sensex experienced a 140-point drop, while the Nifty dipped below the 24800 mark. Pressure on the market stemmed from the decline in IT sector stocks. Weakness in Asian markets and increasing legal uncertainty surrounding US President Donald Trump's tariffs impacted the Indian market.
Weak Global Indicators, Negative Start to the Domestic Session
Weak signals from the global market led to a weak opening for the Indian stock market. GIFT Nifty futures traded at 24,951, with a marginal increase of 12 points, indicating a flat or negative opening for the market.
Regarding Asian markets, Japan's Nikkei index fell by 1.48%, the Topix index by 0.8%, and South Korea's Kospi by 0.18%. Uncertainty surrounding court decisions in the US also impacted market gains, although the Nasdaq and Dow Jones saw marginal increases due to strength in technology stocks.
Impact of Trump Tariffs: Sharp Decline in IT Stocks
On Thursday, a US appeals court ordered the reinstatement of major tariffs imposed by Donald Trump, resulting in a significant decline in IT sector stocks. Indian IT companies heavily rely on the US market, and the increased tariffs have put pressure on these companies.
Major stocks like Infosys, TCS, Wipro, and HCL Tech saw a 2-3% decline, putting further pressure on the Sensex and Nifty.
Market Focus on GDP Data
The market is also awaiting the release of the GDP data for the March quarter. Economists anticipate growth in the Indian economy during the January-March quarter due to improved rural demand and increased government spending. However, global uncertainties have impacted private sector investment.
Foreign Investment Continues, but Volatility Remains
On Thursday, Foreign Institutional Investors (FIIs) purchased shares worth ₹884.03 crore in the Indian stock market. Similarly, Domestic Institutional Investors (DIIs) invested ₹4,286.50 crore. However, uncertainty in global markets and crucial domestic events like the GDP data have maintained market volatility.
US Market Performance
The US markets showed a mixed trend on Thursday. Strength in technology stocks led to a 0.39% increase in the Nasdaq. The Dow Jones closed up 0.28%, and the S&P 500 rose by 0.4%. Buying was seen in tech giants like Nvidia, but court decisions and tariff uncertainty limited the gains.
