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Benchmark equity indices, BSE Sensex and Nifty50, opened lower on Monday, tracking weak global cues and declines in Asian markets.
Sensex, Nifty Today
The BSE Sensex and NSE Nifty50 both ended the first trading session of the week lower, dragged down by widespread selling. The BSE Sensex lost 319.22 points, or 0.41%, closing at 77,186.74, after trading between 77,260.37 and 79,756.09 during the day.
Similarly, the NSE Nifty50 dropped 121.10 points, or 0.52%, finishing at 23,361.05. The index touched a high of 23,381.60 and a low of 23,222 on Monday.
Among the Nifty50 constituents, 35 stocks ended in the red, with notable losses in Larsen & Toubro, Tata Consumer, Hero MotoCorp, Coal India, and Bharat Electronics, which saw declines of up to 4.67%. On the positive side, Bajaj Finance, Shriram Finance, Mahindra & Mahindra, Wipro, and Bajaj Finserv were among the 13 stocks that closed in the green, with gains of up to 5.12%.
In the broader market, smallcap stocks were the worst performers, with the Nifty Smallcap100 index falling by 2.13%. Meanwhile, the Nifty Midcap 100 index also closed lower, down by 0.93%.
View by: Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
Despite an excellent Budget, the market is likely to face pressure from the Trump tariffs and the increased global uncertainty triggered by these ‘initial round of tariffs.’ It is crucial to understand that the 25% tariffs imposed on Mexico and Canada are aimed at punishing them for issues such as immigration and illicit fentanyl trade. Trump may also use tariffs against other countries over non-trade issues.
China’s response to the 10% tariffs has been more measured compared to Mexico and Canada. Rather than imposing retaliatory tariffs on US imports, China has chosen to challenge the US action at the WTO.
At this point, the situation remains uncertain. However, for now, India remains unaffected. As a result, the immediate impact on the Indian market is expected to be limited. That said, the rise in the dollar index to above 109.6 may lead to more selling by Foreign Institutional Investors (FIIs), which could put further pressure on the market.
Global Cues
Markets across the Asia-Pacific region were in the red on Monday after US President Donald Trump imposed tariffs on Canada, Mexico, and China over the weekend.
Australia’s S&P/ASX 200 dropped 1.7%, while Japan’s Nikkei 225 fell 1.99% and the Topix lost 1.85%. South Korea’s Kospi declined 2.43%, with the small-cap Kosdaq down 2.64%. Hong Kong’s Hang Seng Index was 0.52% lower.
Meanwhile, US stock futures tumbled on Sunday night as markets reacted to the newly imposed tariffs. Futures tied to the Dow Jones Industrial Average dropped by 463 points, or 1%, while S&P 500 futures fell 1.6% and Nasdaq-100 futures lost 2.1%.
