Mumbai, February 10, 2025: Indian stock markets extended their losing streak for the fourth consecutive session on Monday, with the benchmark BSE Sensex plunging 548 points and the NSE Nifty dropping 178 points, as fresh US tariff threats rattled investor confidence. The Sensex fell by 548.39 points (0.70%) to close at 77,311.80, while the Nifty declined 178.35 points (0.76%) to settle at 23,381.60. During intra-day trading, the Sensex dropped as much as 753.3 points to hit 77,106.89, marking the lowest closing for both indices in a week.
The sharp decline was triggered by US President Donald Trump’s announcement of plans to impose new tariffs on all steel and aluminum imports into the US, along with reciprocal tariffs targeting specific countries. This announcement sparked global concerns over potential disruptions in trade flows, leading to widespread risk aversion among investors. As a result, many shifted from riskier assets like equities to safe-haven investments such as gold.
Major losers in the Sensex pack included Power Grid, Tata Steel, Zomato, Titan, Bajaj Finance, Mahindra & Mahindra, NTPC, and Tata Motors. The banking, metal, and oil sectors were particularly affected, dragging down the overall market. On the other hand, some stocks managed to withstand the broader sell-off, with Kotak Mahindra Bank, Bharti Airtel, HCL Technologies, Tech Mahindra, ICICI Bank, and Tata Consultancy Services (TCS) emerging as notable gainers, providing some support to the market amid the downturn.
Vinod Nair, Head of Research at Geojit Financial Services, noted, “The US tariff threats continued to impact market sentiment. Domestic yields are inching higher as investors remain cautious and shift towards safe-haven assets like gold.” Similarly, Ameya Ranadive, Senior Technical Analyst at StoxBox, commented, “Indian benchmark indices witnessed a significant decline following President Trump’s tariff announcement. This has created uncertainty around global trade flows, impacting investor sentiment globally.”
Over the past four trading sessions, the Sensex has dropped by 1,272 points (1.63%) since February 5, while the Nifty has declined by 357 points (1.51%) during the same period. Globally, Asian markets showed mixed trends, with Seoul closing lower, while Tokyo, Shanghai, and Hong Kong ended in positive territory. European markets were trading higher, but US markets had closed lower on Friday, reflecting the broader concerns about trade tensions.
Foreign Institutional Investors (FIIs) continued to be net sellers, offloading equities worth Rs 470.39 crore on Friday, further adding to the downward pressure. Meanwhile, Brent crude prices edged up by 1.04% to USD 75.44 per barrel, reflecting volatility in the commodities market amid geopolitical uncertainties.
Looking ahead, market participants will closely monitor developments related to US-China trade relations, domestic economic data releases, FII activity trends, and global commodity price movements. With volatile global cues and rising geopolitical tensions, experts advise investors to exercise caution and focus on fundamentally strong stocks in the near term.
