50% of Sensex stocks sink over 5%; Tata Motors, RIL, TCS hit 52-week lows

Trump tariffs, stock market today: Tata Motors share price sank 10.31 per cent to ₹550.55 per share after Jaguar Land Rover said it has halted exports to the US this month

Stock market today, stock market crash: Half of the 30 Sensex stocks plunged over 5 per cent on the BSE in the intraday trade on Monday, April 7, 2025, as risk-averse sentiment gripped Dalal Street amid US President Donald Trump's aggressive reciprocal tariff announcement.

 

Among the hardest hit stocks, Tata Steel (11.5 per cent), Tata Motors (10.3 per cent; at 52-week low), Infosys (9.9 per cent), IndusInd Bank (9.4 per cent), Adani Ports (9.3 per cent), M&M (9.1 per cent), L&T (8.9 per cent), Tech M (8.4 per cent), HCL Tech (8.3 per cent), Kotak Mahindra Bank (8.1 per cent), Sun Pharma (8.1 per cent), RIL (7.4 per cent; at 52-week low), TCS (7.2 per cent; at 52-week low), Bajaj Finance (7.1 per cent), and Axis Bank (5.1 per cent) dropped between 5 per cent 12 per cent in the intraday trade.

 

Individually, Tata Motors share price sank 10.31 per cent to ₹550.55 per share after its UK-arm Jaguar Land Rover said it has halted exports to the US this month, in the fallout of Trump's 25-per cent tariff on non-US manufactured cars.

 

The US, JLR said, is an important market. However, as the company looks to address the new trading terms, it has decided to "enact" its "planned short-term actions including a shipment pause in April".

 

As per Bloomberg estimates, JLR sold 430,000 vehicles globally in financial year 2023-24 (FY24). Of this, US accounted for 23 per cent of JLR's revenue and 26 per cent of the wholesale volumes in the financial year.  ALSO READ | Sensex, Nifty crash on 'Black Monday' - Why stock market is falling today?

 

That apart, Tata Steel share price crashed 11.5 per cent to an intraday low of ₹124.2 per share amid a double whammy for the counter. First, metal stocks were under heavy selling pressure on Monday as global growth concerns hit the industry-linked sector. China, which is the biggest consumer of metals, has been slapped with a cumulative tariff of 54 per cent. China, on its part, has also slapped 34 per cent retaliatory tariff on the US.

 

Secondly, the Tata Group firm has been served with an income tax notice for financial year 2018-19 (AY 2019-20), which has increased the taxable income for that year by ₹25,185.51 crore. The amount, Tata Steel said, is equivalent to the debt waived off in the favour of the company when it won the rights to acquire Bhushan Steel, now named as Tata Steel BSL, under the Insolvency and Bankruptcy code.

 

IndusInd Bank shares, too, shed 9.4 per cent after the bank's March 2025 quarter update showed a dismal growth in advances. As per IndusInd Bank's Q4FY25 quarterly business update, its net advances increased barely 1.4 per cent year-on-year (Y-o-Y) to ₹3,47,933 crore. This was, in fact, a 5.2 per cent quarter-on-quarter (Q-o-Q) decline in loans.

 

Similarly, IndusInd Bank's Q4 deposits rose 6.8 per cent Y-o-Y to ₹4,11,140 crore, which were up just 0.4 per cent.

 

Among other notable stocks, Reliance Industries share price (RIL) dropped 7.4 per cent intraday to a fresh 52-week low of ₹1,115.5 per share as crude oil prices fell sharply amid global growth concerns. RIL, which is indulged in oil exploration and sourcing, derives nearly 60 per cent of its revenues from the oil and petrochemical business.  ALSO READ | Stock Market Crash LIVE: Sensex drops 3,050 pts to 72,330 as tariffs take toll; IT, metal drag 5-8%

 

Overall, the BSE Sensex index today crashed 3,939.6 points or 5.2 per cent to hit an intraday low of 71,425. The sharp drawdown in equities follows a global rout in equities where investors are on the backfoot due to US President Donald Trump's reciprocal tariffs.

 

After Trump unveiled a barrage of aggressive tariffs on more than 180 countries in the world, China and Canada have announced retaliatory tariffs of equivalent percentage. The Eurozone, meanwhile, is mulling similar steps.