Stock market crash: SENSEX, NIFTY50 and broader indices plunge; 10 key things you need to know

The US president plans to impose tariffs on Canada and Mexico starting Tuesday, in addition to doubling the 10% universal tariff charged on imports from China.

In a Truth Social post Thursday, Trump said illicit drugs such as fentanyl are being smuggled into the United States at “unacceptable levels" and that import taxes would force other countries to crack down on the trafficking.

“We cannot allow this scourge to continue to harm the USA, and therefore, until it stops or is seriously limited, the proposed TARIFFS scheduled to go into effect on MARCH FOURTH will, indeed, go into effect, as scheduled,” the US president wrote. “China will likewise be charged an additional 10% tariff on that date.”

The prospect of escalating tariffs has already thrown the global economy into turmoil, with consumers expressing fears about inflation worsening and the auto sector possibly suffering if America's two largest trading partners, Canada and Mexico, are hit with taxes.

The Indian stock market looked like an ocean of red as traders dumped stocks left, right, and centre.

SENSEX, NIFTY50 tank 2%

The S&P BSE SENSEX tumbled as much as 1,452.83 points, or 1.94%, to 73,159.60, while the broader NIFTY50 index of the NSE slipped up to 439.9 points, or 1.95%, to 22,105.15 levels.

At the time of writing this article, the SENSEX was trading at 73,275.25, down 1,337.18 points, 1.79%. The 50-share index of the NSE was trading at 22,147.45, down 397.60 points, or 1.76%.

Broader markets

The broader market indices fell sharper. The BSE MidCap index was trading at 38,475.59, down 970.10 points, or 2.46%, while the BSE SmallCap index was trading at 42,866.13, down 1,245.51 points, or 2.82%.

Sector watch

All sectoral indices were trading in the red. The biggest losers were tech stocks.

Market breadth

Out of 3,952 stocks traded on the BSE, 3,306 declined, and 521 advanced, while 124 scrips were unchanged. This shows that the market breadth was heavily inclined towards bears.

52-week highs/lows

Upper/lower circuits

Besides, 425 stocks touched their lower circuit during the day, and 83 their upper circuits.

The outliers

Amid a bloodbath, few stocks bucked the trend and were trading with impressive gains.

Valor Estate shares were up 3.54%, and CMS Info Systems was trading 3.27% higher. Vakrangee's shares were trading over 3% higher at ₹13.88 on the BSE.

Over ₹10 lakh crore investor wealth wiped out

The m-cap of BSE-listed firms dropped by ₹10.25 lakh crore from ₹393.10 lakh crore on Thursday to ₹382.85 lakh crore in the afternoon session on Friday.

India VIX flat

India VIX, the volatility index, was trading flat at 13.32 levels, up 0.05%.

The volatility index is a measure of the market’s expectation of volatility over the near term. Volatility is often described as the “rate and magnitude of changes in prices" and in finance is often referred to as risk.

Volume gainers

Stocks with top volumes on the NSE were KSB Limited (72,46,027 shares), Sanofi India (13,568 shares), ABM International (1,914 shares), Home First Finance (25,93,679 shares), and SecureKloud Technologies (1,89,320 shares).

As compared to the average volume of KSB Limited in the past week, which stands at 60,978 shares, today, the stock's volume jumped 118.83 times, NSE data show.