Angel One, MCX, other capital market stocks plunge up to 5% as Trump tariffs reignite recession fears

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Capital market stocks plunged on April 4 after US President Donald Trump introduced massive tariffs on a number of countries, triggering concerns over a possible global recession. These fears reduce the appeal of the equity markets, which are subject to volatility amid uncertainties and retail investors are more likely to balk at the prospect of fresh investments.

Angel One shares tumbled over 5 percent to trade at Rs 2,335.25 apiece. The fall in the share price was fuelled after the company reported a 44 percent YoY fall in gross client acquisition to 4.7 lakh in March 2025. Its average daily orders also fell nearly 27 percent. However, its client base improved nearly 40 percent to 3.1 crore in March 2025.

Nuvama and MCX shares, meanwhile, fell over 3 percent each, while Motilal Oswal Financial Services and Nippon Life India Asset Management shares were down nearly 3 percent each.

UTI AMC, CDSL and HDFC AMC shares meanwhile dropped over 2 percent each. The shares of 360 One WAM, CAMS and IEX fell nearly 2 percent.

Bombay Stock Exchange (BSE) shares also recorded a strong fall, dropping over 1 percent to trade at Rs 5,551 apiece. Anand Rathi shares were trading in the red with marginal losses.

Notably, the fall in the capital market stocks coincides with the sharp selloff in the overall markets. Benchmark index Sensex tumbled over 750 points to stand at around 75,440. Nifty meanwhile fell over 1.2 percent to drop below the 23,000-mark.

Emkay Global in its latest report said, "We see further downside for Indian equities in 1QYF26, notwithstanding the complacent response to the reciprocal tariffs by the US. The direct impact on India may be muted, but the resulting US recession poses a ~3% risk to FY26 Nifty EPS and the consequent derating could push the Nifty down to 21,500. Longer term, rate cuts and commodity price corrections would counterbalance this, and we remain positive on domestic-facing sectors like discretionary consumption."

VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said, "Markets are going through heightened uncertainty which is likely to last some time. A trade war has been triggered by Trump and retaliatory tariffs from China, EU and others are on the cards. This will only extend the period of uncertainty and confusion in the market…Investors can wait for the dust to settle down."

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.