US President Donald Trump has announced to impose 25 percent tariff on the auto sector. Since then, heavy selling is being seen in the auto sector in the National Stock Exchange’s Nifty.
At the same time, the effect of this announcement has been seen in some big companies of the auto sector. Let’s know about it in detail.
US President Donald Trump has announced tariffs in the auto sector. This 25 percent tariff will be implemented from April 2. Trump announced during a program in the Oval Office that a 25 percent tariff will be imposed on foreign cars imported or exported to the US.
Along with this, Donald Trump has also said that his decision is permanent and it will not be changed now. The effect of this decision of Donald Trump has been seen on the big companies of the auto sector. At the same time, the shares of many big auto companies have fallen.
Heavy selling in auto sector
The stock market started on a red mark today. But gradually the stock market started recovering. Right now the main stock market indexes BSE Sensex and NSE Nifty are trading on the green mark. At the time of writing, the auto sector shares in NSE Nifty have fallen by 0.70 percent.
Along with this, there is heavy selling in the pharma sector also.
These companies of the auto sector were affected
The impact of US President Donald Trump’s tariff has been seen on the big companies of the auto sector. These affected companies include Tata Motors, Mahindra and Eicher Motors.
Tata Motors – After Trump’s tariff announcement, Tata Motors’ shares have seen a sell-off of about 4 percent. The price of one share of Tata Motors in the BSE Sensex is Rs 673.50. On the other hand, the shares of Tata Motors have fallen by 4.92 percent in the NSE Nifty. Currently, the price of one share of Tata Motors in the NSE Nifty is Rs 673.40.
Mahindra- The impact of the tariff announcement has been seen on Mahindra company as well. Mahindra shares have fallen by 0.44 percent in the BSE Sensex. At present, the price of one share is Rs 2732.90. Along with this, Mahindra shares have fallen by 0.39 percent in the NSE Nifty. The price of one share is currently Rs 2731.
Eicher Motors – There has been a huge sell-off in the shares of Eicher Motors. Shares of Eicher Motors have seen a 0.55% sell-off in the BSE Sensex. Currently, the price of one share of Eicher Motors is Rs 5370. Along with this, its shares have fallen by 0.49% in the NSE Nifty. The price of one share is Rs 5376.
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