Sensex, Nifty join global selloff as Trump tariffs trigger trade war fears
Mumbai, Apr 4 (PTI): Equity benchmarks Sensex on Friday slumped over 900 points to crash below the 76,000 level due to an across-the-board sell-off, tracking weak global markets amid growing global trade war fears.
Besides, a sharp correction in crude prices and a heavy sell-off in market heavyweights Reliance Industries, Larsen & Toubro and Infosys added to the gloom, analysts said.
The 30-share BSE Sensex tumbled 930.67 points or 1.22 per cent to settle at 75,364.69. During the day, it plummeted 1,054.81 points or 1.38 per cent to hit an intraday low of 75,240.55.
The broader NSE Nifty declined 345.65 points or 1.49 per cent to close at 22,904.45. In the session, the 50-share benchmark gauge 382.2 points or 1.64 per cent to 22,867.90.
Tata Steel was the biggest loser in the Sensex pack, sliding 8.59 per cent, followed by Tata Motors, Larsen & Toubro, Adani Ports, IndusInd Bank, Tech Mahindra, Reliance Industries, Sun Pharmaceutical, HCL Technologies, Tata Consultancy Services, Infosys, and NTPC, were the major laggards.
On the other hand, Bajaj Finance, HDFC Bank, Nestle India, ICICI Bank, ITC, Asian Paints and Axis Bank were among the gainers.
In broader markets, the BSE midcap gauge plunged 3.08 per cent, while smallcap index declined 3.43 per cent.
"Markets slumped in sync with the crash in global equities with sectors crashing over 2-6 per cent on broad-based selling," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.
Investors fear Trump's reciprocal tariff policy will fuel recession and drive inflation in the US going ahead and engulf other key economies. A sharp fall in metal and oil stocks is indicating that demand could be hit amid slowdown fears, Tapse added.
In Asian markets, Tokyo and Seoul ended lower. Hong Kong and Shanghai stock markets remained closed for the holidays.
European markets were trading lower in the mid-session deals. US markets closed lower in overnight deals on Thursday, witnessing their biggest drop since 2020.
Global oil benchmark Brent Crude slipped 3.26 per cent to USD 67.85 a barrel.
"Crude oil prices plunged after the US President announced heavy reciprocal trade tariffs, triggering fears of slower global demand. A sharp tariff hike on China spooked energy markets, leading to crude oil's biggest single-day fall in three years," Rahul Kalantri, VP Commodities, Mehta Equities Ltd, said.
Meanwhile, foreign institutional investors (FIIs) offloaded equities worth Rs 2,806 crore on Thursday, while Domestic Institutional Investors (DIIs) purchased shares worth Rs 221.47 crore on a net basis.
On Thursday, the 30-share BSE Sensex declined by 322.08 points to close at 76,295.36, and the broader NSE Nifty fell 82.25 points to settle at 23,250.10.
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Mohanlal, Shah Rukh, Rani Mukerji, Vikrant Massey conferred National Awards
New Delhi, Sep 23 (PTI): President Droupadi Murmu on Tuesday conferred National Awards for acting to Shah Rukh Khan, Vikrant Massey and Rani Mukerji while Malayalam superstar Mohanlal was honoured with the Dadasaheb Phalke lifetime achievement award in a ceremony that doffed its hat to mainstream popular cinema.
Filmmakers Vidhu Vinod Chopra, who took home the best film prize for "12th Fail", and Karan Johar and Apoorva Mehra, who received the award for "Rocky Aur Rani Kii Kahaani" for best popular film providing wholesome entertainment, completed the starry ensemble at the 71st National Film Awards.
The best director award went to Sudipto Sen for "The Kerala Story".
The National Awards for 2023 were announced in August. It's the first National Award for friends and frequent collaborators Shah Rukh and Rani as well as for Vikrant. While Shah Rukh got it for his role in "Jawan", sharing his win with "12th Fail" star Vikrant, Rani bagged it for "Mrs Chatterjee vs Norway".
There were whistles and loud cheers as Rani and Shah Rukh went up to receive their awards at the traditionally sober ceremony. Mohanlal, recognised for a remarkable career spanning five decades and more than 360 films, got a standing ovation from the crowd gathered at the city's Vigyan Bhawan.
"I got to know that when Mohanlal's name was announced for Dadasaheb Phalke, there was wave of happiness among people. It shows that he has made a space for himself in countless people's heart," the president said in her address after the award ceremony.
"He has presented the softest of the soft and toughest of the tough emotions quite naturally," Murmu added in a speech in which she congratulated all the winners and touched on various issues, including the plurarity of Indian cinema, Indian sensibility and women-centric films.
"Now we see women in many places in cinema like actors and producers. I have seen films about mothers, women uniting against societal wrongs, and strong women who raise their voices. I salute these filmmakers on behalf of sisters and daughters.
Please thank your crews for your success, they are behind it,' she said.
Just like Indian literature is created in various Indian languages, the president said, Indian cinema is advancing in so many languages, dialects, regions and local environments.
Information and Broadcasting Minister Ashwini Vaishnaw spoke of the Make in India initiative of the government.
"Equipment used in the film industry such as big cameras... should be made in India. We will be started a programme on this soon," he said. The minister also stressed on the need to create a live concert economy with proper policy support, uniform guidelines and easy permissions.
As the recipient of the prestigious Dadasaheb Phalke, Mohanlal was the only awardee who spoke.
He said he was deeply humbled to be the youngest recipient, and "only the second ever" from the state to be bestowed with this national recognition.
"This moment is not mine alone. It belongs to the entire Malayalam cinema fraternity. I see this award as a collective tribute to our industry, legacy, creativity and resilience," added the 65-year-old movie legend known for landmark films such as “Iruvar”, “Vanaprastham”, “Pulimurugan” and “Drishyam”.
Hindi cinema dominated the awards in the main categories.
Among those presented awards were Meghna Gulzar and Ronnie Screwvala for the biopic on Field Marshal Sam Manekshaw "Sam Bahadur", the best film promoting national, social and environmental values.
Vaibhavi Merchant won the best choreography award for "Rocky Aur Rani Kii Prem Kahaani" song "Dhindhora Baaje". Shilpa Rao was named best female playback singer for "Jawan" track "Chaleya".
Sanya Malhotra-starrer "Kathal: A Jackfruit Mystery" was named the best Hindi film.
Regional movies were recognised in categories such as best supporting actor and actress and in technical segments.
The best supporting actor trophy was shared by Vijayaraghavan for Malayalam film "Pookalam" and Muthupettai Somu Bhaskar for Tamil film "Parking".
The best supporting actress honour went to Urvashi for the Malayalam movie "Ullozhokku" and Janki Bodiwala for Gujarati title "Vash". Both movies won best films in their respective language segments.
Ashish Bende bagged the award for best debut film of a director for Marathi film "Aatmapamphlet".
The best film in AVGC (animation, visual effects, gaming & comic) went to Telugu film "Hanu-Man", which also won the best action direction award.
"Animal", another Hindi blockbuster of 2023, won awards for best sound design, best music director (background music) and a special mention for re-recording mixer.
The National Award for best screenplay was shared between Telugu movie "Baby" and Tamil film "Parking". "Baby" singer PVN S Rohit was recognised as the best male playback singer for the song "Premisthunna".
The best music director for songs went to G V Prakash for Tamil movie "Vaathi". Kasarla Shyam was named best lyricist for Telugu movie "Balagam" song 'Ooru Palleturu".
Deepak Kingrani was named best dialogue writer for the Manoj Bajpayee-fronted Hindi film "Sirf Ek Bandaa Kaafi Hai". The best editing prize went to Malayalam title "Pookkaalam" and production design to another Malayalam movie "2018".
Sukriti Veni Bandreddi ("Gandhi Tatha Chettu"), Kabir Khandare ("Gypsy") and "Naal 2" cast members Treesha Thosar, Shrinivas Pokale, and Bhargav Jagtap were recognised in the best child artists category. "Naal 2" was also named best children's film.
In the language film categories, the winners were -- "Rongatapu 1982" (Assamese), "Deep Fridge" (Bengali), "Parking" (Tamil), "Kandeelu" (Kannada), "Shamchi Aai" (Marathi), "Puskara" (Odia), "Godday Godday Chaa" (Punjabi) and "Bhagavanth Kesari" (Telugu).
The winners for various non-feature categories were also announced with Hindi movie "Flowering Man" being named the best film, while the best documentary went to "God Vulture and Human". The best director award was bagged by Piyush Thakur for "The First Film" and the best script went to Chidananda Nayak's Kannada short film "Sunflowers were the First Ones to Know".
