New Delhi, April 10 -- After rebounding in March, Indian equities witnessed renewed selling pressure in April, dragged down by escalating fears of a global trade war. According to Axis Securities, both the Nifty and Sensex declined nearly 5 percent during the month, reversing the optimism seen earlier. The immediate trigger for the correction was the imposition of reciprocal tariffs by the US on imports from over 180 countries - including key economic partners like China and India.

US President Donald Trump's move on April 2 aimed to protect American manufacturing but prompted swift retaliation from China, which imposed a 34 percent tariff on US goods. Axis Securities said the tit-for-tat measures between the world's two largest economie...