Markets extend losses: NIFTY50 and SENSEX fall 0.8%, broader indices bleed up to 3%

Stock market crash:Indian equity indices added more losses in the mid-market session as market participants reduced their positions. Meanwhile, the broader markets were facing the heat of selling; the BSE mid-cap index dropped by 2.42%, and the small-cap index was down 2.84%.

Traders were cautious after US President Donald Trump proposed a plan to impose tariffs on trading partners amid PM Narendra Modi's official visit to the US. Traders overlooked the report that Finance Minister Nirmala Sitharaman has said the government will continue to take measures to check inflation and ensure that citizens are not burdened. All the sectoral indices on the BSE were trading in red led by Healthcare, Industrials, Power, Telecom and Utilities.

On the global front, Asian markets were trading mostly in green following positive cues from the US markets overnight. Some support also came in as Malaysia's economy expanded more than previously estimated in the fourth quarter on household spending and investment. Gross domestic product expanded 5.0% year-on-year in the fourth quarter. Back home, in a stock-specific development, Anupam Rasayan surged after the company posted healthy Q3FY25 numbers.

The SENSEX traded at 75677.00, down by 461.97 points or 0.61% after trading in a range of 75588.86 and 76483.06. 5 stocks were advancing against 25 stocks declining on the index.

The NIFTY50 is at 22862.50, down by 168.90 points or 0.73% after trading in a range of 22843.30 and 23133.70. Seven stocks advanced on the index, while 43 stocks declined.

Asian markets were trading mostly in green; Hang Seng advanced 572.25 points or 2.56% to 22,386.62, Jakarta Composite gained 9.53 points or 0.14% to 6,623.10, Shanghai Composite strengthened 8.73 points or 0.26% to 3,341.21 and KOSPI increased 8.72 points or 0.34% to 2,591.89. However, Straits Times fell 7.07 points or 0.18% to 3,875.51, Nikkei 225 slipped 321.13 points or 0.82% to 39,140.34 and Taiwan Weighted lost 198.54 points or 0.86% to 23,200.87.