Mumbai, February 28- The turmoil in global markets after US President Donald Trump announced to impose tariffs on Canada and Mexico from March 4 and impose an additional 10 percent tax on goods imported from China has also affected the Indian stock market.
The domestic stock market witnessed a sharp decline on Friday, causing investors to lose a huge loss of Rs 7.46 lakh crore. The Bombay Stock Exchange's Sensex fell by 1,073 points, which also affected investors' wealth.
The 30-share Sensex (index) of the Bombay Stock Exchange has fallen by 1073.48 points to 73,538.95. Meanwhile, the National Stock Exchange's Nifty also fell by 327.55 points to 22,217.50. Due to the market's face, the market capitalization of companies listed on the BSE fell by Rs 7,46,647.62 crore to Rs 3,85,63,562.91 crore (US $ 4.42 trillion).
Among the Sensex pack, shares of IndusInd Bank, Mahindra & Mahindra, Tech Mahindra, HCL Tech, Infosys, Tata Steel, Tata Motors and Maruti were the worst hit. On the other hand, shares of Axis Bank, Adani Ports, Reliance Industries and HDFC Bank gained big.
Asian markets saw a decline in Seoul, Tokyo, Shanghai and Hong Kong. The US market saw a big decline on Thursday.