Stock markets extended their losing streak for the fourth consecutive session on Monday, with the BSE Sensex falling 548.39 points or 0.7 per cent to close at 77,311.8. The NSE Nifty50 declined 178.35 points or 0.76 per cent to end at 23,381.6.
The market decline came after US President Donald Trump announced a 25 per cent import tax on steel and aluminum imports into the United States, raising concerns about global trade tensions. The broader markets faced steeper declines, with both indices dropping over 2 percent.
All sectors ended in the red, with realty and metal stocks bearing the brunt of the selling pressure. Within the Nifty50, Kotak Mahindra Bank, Bharti Airtel, and Britannia emerged as top gainers, while Trent, Power Grid Corporation, and Tata Steel were among the major losers.
According to Vinod Nair, Head of Research at Geojit Financial Services, the US tariff threats weighed on market sentiment. He noted that rising domestic yields are prompting investors to shift towards safe-haven assets like gold. Companies are facing earnings estimate downgrades due to weak demand, margin pressures, and cautious near-term outlook.
The volatile trading session reflected growing investor concerns about global trade policies and their potential impact on domestic markets.
- Also read: Stock Market Live Updates 10 February 2025: Sensex tumbles 548.39 points to settle at 77,311.80; Nifty drops 178.35 points to 23,381.60