Sensex Tanks 1,018 Points To End Lower For 5th Day, Nifty Settles Below 23,100; Zomato Down 5% – News18
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Benchmark indices, BSE Sensex and Nifty50, opened lower on Tuesday, reflecting mixed global cues as investors evaluated the impact of tariffs imposed by US
Stock Market Today
Sensex Today: Benchmark equity indices, the BSE Sensex and NSE Nifty50, extended their losses on Tuesday, closing in the red as investors expressed concerns over U.S. President Donald Trump’s tariff policies.
The 30-share Sensex dropped 1,018.20 points, or 1.32%, to finish at 76,293.60, after fluctuating between 77,387.28 and 76,030.59 throughout the day.
Similarly, the NSE Nifty50 declined by 309.80 points, or 1.32%, ending at 23,071.80. The Nifty50’s highest point for the day was 23,390.05, while the lowest was 22,986.65.
Broader market indices followed the same trend, with the Nifty Smallcap100 and Nifty Midcap100 indices falling by 3.45% and 3.02%, respectively.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, noted that persistent selling by Foreign Institutional Investors (FIIs) in large-cap stocks has brought their valuations in line with market conditions, while mid and small-cap stocks remain overvalued. On Friday, FIIs sold equities worth Rs 470.39 crore.
Vijayakumar added, “FIIs will eventually turn buyers in India, but that will only happen when the dollar index weakens. While we know this will happen, the timing is uncertain. In the meantime, investors should focus on buying quality large-cap stocks in sectors such as banking, IT, autos, pharma, and capital goods, and be patient.”
He further emphasized that when FIIs start buying again, they are likely to return to the large-caps they are currently selling. “For patient investors, this is a good opportunity. Trump’s recent decision to impose 25 per cent tariffs on steel and aluminum will likely impact countries like Mexico, Brazil, South Korea, and Vietnam more, which will keep metal prices subdued for the foreseeable future,” he concluded.
Global Cues
The US dollar strengthened on Tuesday after President Trump announced plans to significantly raise tariffs on steel and aluminum imports, with additional reciprocal tariffs on other countries expected in the coming days.
Asian currencies traded in narrow ranges, with movements less pronounced than Monday’s as Trump formalized his weekend pledges. Trading volumes were lighter due to Japan’s holiday.
Oil prices remained stable as traders absorbed the impact of new tariffs, with concerns that a 25 per cent levy on US steel and aluminum imports could affect global economic growth and energy demand. By 0128 GMT, Brent crude futures rose 11 cents to $75.98 a barrel, and US West Texas Intermediate crude gained 5 cents, reaching $72.37.
