The response was in line with losses across most Asian markets amid Trump’s commitment to imposing tariffs on imports, raising concerns over potential disruptions in global supply chains.
Representative Image (Photo: IANS)
Stock market witnessed a sharp decline on Monday shedding over 0.7 per cent as investors’ sentiment remained cautious following US President Donald Trump’s tariff commitment.
The response was in line with losses across most Asian markets amid Trump’s commitment to imposing tariffs on imports, raising concerns over potential disruptions in global supply chains.
Advertisement
Benchmark indices dropped for the fourth straight session. At close, Sensex dropped 0.7 per cent, or 548 points, settling at 77,311.80, while the Nifty50 index declined by 0.76 per cent, or 178.35 points, to 23,381.60.
Advertisement
Throughout the day, Nifty reached a high of 23,568.6 and a low of 23,316.3 while, the Sensex fluctuated between 77,849.58 and 77,106.89. All the sectoral indices ended in the red with metal, media, pharma, consumer durables, energy, realty down 2 per cent each.
Nifty Metal, Realty, Healthcare, Consumer Durables, Media, and select Consumer Durables indices sold off with losses of over 2 per cent each.
Nifty Midcap 50 closed down by 2.26 per cent while the small-cap stocks lagged behind with Nifty Small Cap 100 ended at 17,006.85, down by 358.15 points, reflecting a decrease of 2.11 per cent.
On Nifty 50, the gainers were Kotak Mahindra Bank (1.60 per cent), Bharti Airtel (0.97 per cent), Britannia Industries (0.80 per cent), Tata Consumer (0.62 per cent), and HCL Technologies (0.48 per cent).
The top losers were Trent (4.72 per cent), Power Grid Corporation of India (3.40 per cent), Tata Steel (3.09 per cent), Titan Company (2.84 per cent), and Oil & Natural Gas Corporation (2.59 per cent).
Bank Nifty concluded at 50,158.85, with an intraday high of 50,155.65 and a low of 49,703.1.
Indian rupee touched a new record low today at 87.9563 against the US dollar due to introduction of new tariff plans of the U.S. President.
As many as 19 out of 20 constituents of the Nifty Pharma index declined, with Alkem Laboratories and Ipca Laboratories emerging as the top losers. Nifty Pharma index ended January with a 9 per cent decline.
Among the individual performers, shares of Mazagon Dock Shipbuilders rose 9.4 per cent to Rs 2,440 for the second consecutive trading session. Bharat Electronics Ltd reflected gains close to a per cent after bagging various orders.
Shares of Mahindra & Mahindra gained about 2 per cent, trading at Rs 3,244.10 after it delivered strong Q3 earnings that stood as the primary reason behind the share gains.
Swiggy was down by over 5 per cent, extending its decline to over 18 per cent since it declared its Q3FY25 earnings.
US tariff threats continued to impact the market sentiment while on the earnings front, the companies are facing downgrades in estimates due to a weak demand environment.
Advertisement
