rewrite this title and make it good for SEOSensex slumps over 1,250 pts, Nifty down over 1% as Trump’s tariff deadline looms: Here’s why

After opening in the red mirroring weak sentiment globally, Indian equities extended losses on the first day of the new FY 2025-2026.  Around 11:30 am, the 30-share BSE Sensex fell 1.47 per cent or 1,141.43 to 76,273.49, while the Nifty50 index slipped as much as 1.12 per cent or 263.35 points to 23,356 points.

Here are the possible reasons for the slump in today’s session:

Broader markets languish:

After positive trade in the early session, both the midcaps and smallcaps retreated lower, with the midcaps underperforming smallcaps. From the Nifty Midcap100 pack, top laggards were Persistent Systems, Voltas, Policy Bazaar, Lupin and Coforge among others.

However, from the Nifty Smallcap 100, the top losers dragging the index lower are Amber Enterprises, Laurus Labs, Redington, Five-Star Business.

Realty, IT lead losses:

As worries over the reciprocal tariffs mount globally after the US President threatened to impose tariffs that would spare no nation, Realty faced the major blow in trade today. Nifty Realty slumped as much as 3 per cent, while IT and private bank indices also toppled.

FIIs selling resumes:

In the previous sesion, FIIs resumed their selling on the D-Street even as for March month – they turned out to be net buyers to the tune of Rs 6,758 crore.