Mumbai: India’s stock markets faced a downturn on Monday as weak global trends and declining Asian markets weighed on investor sentiment.
Table of Contents
Benchmark Indices Struggle
At the closing bell, the BSE Sensex dropped 319.22 points (0.41%) to settle at 77,186.74, while the Nifty declined 121.10 points (0.52%) to close at 23,361.05.
US Tariffs Impact Indian Markets
The decline in Indian markets was triggered by US President Donald Trump’s decision to impose a 25% tariff on imports from Canada and Mexico, along with a 10% duty on Chinese goods. Trump defended these measures as necessary to protect American borders and curb illicit activities.
Sectoral Performance
Out of 50 constituent stocks on Nifty, 35 closed in the red, as the exchange remained negative throughout the session.
Top Losers on NSE
- Larsen & Toubro
- Tata Consumer
- Hero MotoCorp
- Coal India
- Bharat Electronics
(Losses extended up to 4.67%)
Top Gainers on NSE
- Bajaj Finance
- Shriram Finance
- Mahindra & Mahindra
- Wipro
- Bajaj Finserv
(Gains recorded up to 5.12%)
Sectoral Performance Overview
Most sectors ended in the red, except:
- IT Sector (+0.39%)
- Consumer Durables (+0.33%)
Biggest Losers:
- Metal Stocks (-3%)
- Oil & Gas Stocks (-2.80%)
Also Read: Budget Sentiments Over, Market Shifts Focus to RBI MPC Meet on Feb 7
Other sectors facing pressure:
- FMCG (-2.14%)
- PSU Banks (-2.02%)
- Realty (-1.20%)
- Nifty Bank Index (-0.61%)
Broader Market Trends
The broader markets struggled as well:
- BSE SmallCap Index fell 1.85%
- BSE MidCap Index lost 1.29%
Market Volatility Increases
India’s market volatility index, India VIX, rose 2.30% to 14.42, indicating increased uncertainty in the market.