Stock Market Updates: Sensex Tanks Over 700 Points, Nifty Below 23,300; All Sectors In Red – News18
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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
Benchmark equity indices, BSE Sensex and Nifty50, opened lower on Monday, tracking weak global cues and declines in Asian markets.
The Sensex fell by 694.10 points, or 0.90%, to settle at 76,811.86, while the Nifty dropped by 227.45 points, or 0.97%, to close at 23,254.70.
Following the opening bell, all sectoral indices were trading in the red. The Metal index saw the steepest decline, falling 3.19%, followed by the Realty index, which dropped 2.07%. Other major indices, including Nifty IT (down 1.44%), Bank (down 1.04%), Pharma (down 1.10%), Healthcare (down 1.01%), Oil & Gas (down 1.79%), and Financial Services (down 0.91%), also traded lower.
In the broader markets, the BSE MidCap index fell by 1.49%, while the BSE SmallCap index declined by 1.53%. Meanwhile, India’s risk gauge, the India VIX, surged by 5.07%, reaching 14.81.
The measures announced in Budget 2025 by Finance Minister Nirmala Sitharaman on Saturday, February 1, are expected to bolster a sluggish economy and move India closer to the government’s goal of achieving ‘Viksit Bharat’ by 2027. However, in the short term, investors are likely to adopt a cautious stance.
Other factors, such as a potential trade war in the US, the upcoming policy rate decision by the Indian central bank later this week, and ongoing selling by foreign institutional investors, are likely to influence market momentum.
Additionally, third-quarter results from companies like Power Grid Corp and Divi’s Laboratories, along with the final January Manufacturing PMI data from India, China, the US, and the UK, will be closely watched by investors.
In a separate statement, FM Nirmala Sitharaman highlighted that the FY26 Budget had reinforced the key foundations to guide the country’s progress towards a Viksit Bharat, outlining clear targets in several areas.
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%.
