Indian shares tumbled on Monday, with the Nifty 50 and BSE Sensex plunging over 4 per cent as a global market rout intensified on fears of a US recession and escalating trade tensions. The Nifty 50 dropped 4.03 per cent to 21,982.05, while the Sensex shed 3.86 per cent to 72,455.5 by late morning trade, after falling nearly 5 per cent at the open—marking their steepest single-day fall since March 2020. The Nifty volatility index spiked 57 per cent to 21.55, its sharpest single-session rise in a decade, as investor anxiety soared following President Donald Trump's announcement of sweeping reciprocal tariffs. The move triggered retaliatory measures from China, fuelling concerns of a prolonged trade war and increased economic uncertainty. All 13 major Indian sectoral indices were in the red. Metal stocks slumped 7 per cent, IT shares dropped 5 per cent amid US recession worries, and financials declined 4 per cent. Broader markets also suffered, with small- and mid-caps falling 5.9 per cent and 4.8 per cent, respectively. Analysts warned that heightened volatility and weaker returns could undermine sentiment, while some brokerages flagged potential downside risks to India's FY26 GDP growth. However, government officials said projected growth for the current fiscal remains unaffected. With corporate earnings expected to stay muted in the March quarter, the Nifty 50 could test the 21,500–21,800 support range, analysts said. Attribution: Reuters Subediting: M. S. Salama
