Sensex, Nifty fall for 4th day amid fresh US tariff concerns, foreign fund outflows 
Market Updates

Sensex, Nifty fall for 4th day amid fresh US tariff concerns, foreign fund outflows

The 30-share BSE Sensex dropped 548.39 points or 0.70 percent to settle at a week’s low of 77,311.80. Intra-day, it tanked 753.3 points or 0.96 percent to 77,106.89

PTI

New Delhi: Stock markets closed with losses for the fourth consecutive day on Monday with the benchmark Sensex falling by 548 points as fresh US tariff threats shook investor confidence and triggered selling in bluechip banking, metal and oil shares.

The 30-share BSE Sensex dropped 548.39 points or 0.70 percent to settle at a week’s low of 77,311.80. Intra-day, it tanked 753.3 points or 0.96 percent to 77,106.89.

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The NSE Nifty declined 178.35 points or 0.76 percent to 23,381.60 dragged by losses in Trent, Tata Steel and Power Grid.

"The US tariff threats continued to impact the market sentiment. Domestic yield is inching higher as investors stay cautious on riskier assets and navigate their investments to safe haven assets like gold," Vinod Nair, Head of Research, Geojit Financial Services, said.

From the 30-share Sensex pack, Power Grid, Tata Steel, Zomato, Titan, Bajaj Finance, Mahindra & Mahindra, NTPC and Tata Motors were among the major laggards.

Kotak Mahindra Bank, Bharti Airtel, HCL Tech, Tech Mahindra, ICICI Bank and Tata Consultancy Services were the gainers.

Sensex has dropped 1,272 points or 1.63 percent while Nifty tanked 357 points or 1.51 percent on the four-day decline since February 5.

"Indian benchmark indices witnessed a significant decline today following a statement by US President Donald Trump, who announced plans to impose new tariffs on all steel and aluminum imports into the US, along with additional reciprocal tariffs," Ameya Ranadive Chartered Market Technician, CFTe, Sr Technical Analyst, StoxBox, said.

The BSE smallcap gauge dropped 2.25 percent and midcap index tanked 2.06 percent.

All BSE sectoral indices ended lower. Realty tumbled the most by 2.69 percent, followed by metal (2.63 percent), consumer durables (2.61 percent), utilities (2.49 percent) and consumer discretionary (1.94 percent).

As many as 3,032 stocks declined while 1,070 advanced and 123 remained unchanged on the BSE.

In Asian markets, Seoul settled lower while Tokyo, Shanghai and Hong Kong ended in the positive territory.

European markets were trading higher. US markets ended lower on Friday.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 470.39 crore on Friday, according to exchange data.

Global oil benchmark Brent crude climbed 1.04 percent to USD 75.44 a barrel.

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