Equity markets plummeted in Tuesday’s mid-day trading as fears of potential global trade disruptions intensified ahead of US President Donald Trump’s anticipated tariff announcement. The benchmark Sensex crashed 1,408.96 points or 1.82 per cent to 76,005.96, while the Nifty declined 358.80 points or 1.53 per cent to 23,160.55.

The selloff deepened significantly from the morning session, when markets had opened mixed with relatively modest movements. Investor anxiety has grown throughout the trading day as market participants brace for Trump’s April 2 tariff declaration, which could potentially trigger a global trade war.

Banking and IT sectors bore the brunt of the downturn, with HDFC Bank shedding 2.92 per cent to trade at ₹1,774.75, while IT majors HCL Tech and Infosys tumbled 2.64 per cent and 2.52 per cent respectively. Bajaj Finserv declined 2.47 per cent and Hindalco dropped 2.40 per cent, rounding out the top five losers on the NSE.

Despite the broad market weakness, IndusInd Bank emerged as the top gainer, surging 5.06 per cent to ₹682.75. Retail chain Trent followed with a robust gain of 4.77 per cent to reach ₹5,579.15. HDFC Life, Jio Financial Services, and ONGC also bucked the trend, rising 1.57 per cent, 1.38 per cent, and 1.24 per cent respectively.

Sectoral indices reflected the broader market sentiment, with Nifty Financial Services falling 1.96 per cent to 24,583.15 and Nifty Bank dropping 1.37 per cent to 50,856.35. The Nifty Next 50 and Midcap 100 indices also traded lower by 0.88 per cent and 0.71 per cent respectively.

Market breadth showed signs of resilience despite the headline index declines, with 2,528 advances against 1,337 declines on the BSE. However, the higher number of stocks at 52-week lows (178) compared to those at 52-week highs (59) underscored the cautious sentiment.

The market volatility was further evidenced by 285 stocks hitting upper circuit limits and 216 touching lower circuits. Global factors, including Trump’s recent threats of secondary tariffs on Russian oil and additional measures against Iran, continue to weigh heavily on domestic market sentiment.

Trading remains active with over 4,000 stocks changing hands on the BSE as investors navigate the uncertain landscape ahead of the U.S. President’s policy announcement, which could significantly impact global trade dynamics and market direction in the coming days.