Mumbai (Maharashtra) [India], October 13 (ANI): Domestic benchmark equities opened under pressure on Monday as selling returned to equities amid renewed global uncertainty following US President Donald Trump's announcement of fresh tariffs on China.

The return of tariff tensions has once again unsettled global trade sentiment, making investors cautious across markets.

At the opening bell, the Nifty 50 index declined 108.05 points or 0.43 per cent to 25,177.30, while the BSE Sensex fell 450.25 points or 0.55 per cent to open at 82,050.57.

Ajay Bagga, Banking and Market Expert, told ANI, 'There is some risk coming to India via the listing of mega IPOs. The relief is that till Diwali just one IPO is planned so secondary market volumes will not suffer due to bunched-up primary offerings sucking out liquidity. Buy the dip remains the US trade, we expect buyers to emerge in India as well at lower levels. US futures are up, cryptos are seeing a recovery, but Asian markets are down.'

The pressure was visible across the broader market indices on NSE. All major indices opened in negative territory, with the Nifty 100 down by 0.28 per cent, Nifty Midcap 100 lower by 0.20 per cent, and Nifty Smallcap 100 slipping 0.33 per cent.

Among sectoral indices, except Nifty Media which was marginally up, all other sectors witnessed selling pressure. Nifty IT fell 0.45 per cent, Nifty Auto traded flat in the negative zone, and Nifty Metal declined by 0.61 per cent.

Global cues remained weak after U.S. stocks experienced an April-like fall following Trump's fresh tariff threat on China. The U.S. stock market capitalization fell nearly USD 2 trillion, triggering sharp declines across asset classes.

The crypto market also witnessed heavy selling, with total market capitalization dropping by USD 800 billion as USD 19 billion worth of positions were liquidated, marking the biggest such move ever.

Commodities and safe havens also reacted sharply. Oil prices fell, while gold and other safe assets rose as investors moved to reduce risk exposure. U.S. Treasury yields declined, reflecting the flight to safety.

However, over the weekend, President Trump appeared to soften his tone. While boarding his flight to Egypt, he told the media that November 1st, when the 100 per cent China tariffs are supposed to be rolled out, is an 'eternity' away, hinting that there may still be room for negotiation.

Sunil Gurjar, SEBI-registered analyst and Founder of Alphamojo Financial Services, said, 'Nifty is currently hovering near resistance, and a breakout above 25,500 would signal a continuation of the uptrend in the sector. Overall, the index displays strong Relative Strength, with the market advancing slowly and steadily. Technically, the price is trading above all key moving averages, further indicating upward momentum. Optimism ahead of the quarterly earnings season added to the upbeat market mood.'

Key results for the second quarter earnings expected today include HCL Technologies, Anand Rathi Wealth, Just Dial, Indo Thai Securities, Krishana Phoschem, Stallion India Fluorochemicals, SG Finserve, Laxmi Goldorna House, Den Networks, and Lotus Chocolate Company.

Meanwhile, Tata Capital is listing its IPO today after being subscribed 1.95 times overall, adding another key event for investors to watch as the trading week begins. (ANI)