On April 7, as trade war worries shook global shares, benchmark indices saw their biggest one-day decline since June 2024. The Sensex and Nifty 50 closed more than 3% lower, but they fell less than their Asian and European counterparts.
In early trading, the major indices saw a precipitous 5% decline, but they somewhat recovered during the day, demonstrating their relative stability in the face of increased global volatility.
Asian indexes, on the other hand, had heavy losses at the end of April 7. Japan’s Nikkei 225 fell 7.4% into bear territory, Hong Kong’s Hang Seng index fell 13%, and the Taiwanese benchmark halted trading following a 9.7% collapse.
The BSE Sensex had recovered from a low of 71,425.01 to close with a loss of 2,226.79 points or 2.95% to finish at 73,137.90, while the Nifty 50 fell 743 points or 3.24% to settle at 22,161.60.
The sector indices were most severely affected, with the Nifty Metal down 6.42% to 7,874.20 on Monday. The index has declined 10% in the last two sessions. Small and mid-cap equities in the larger markets also ended the day lower, mirroring the mood of the market as a whole. The India VIX, a measure of volatility, jumped 66.12% to 22.85.
