MUMBAI: Benchmark indices Sensex and Nifty ended lower on Tuesday, snapping a two-day rally, as weak global market trends weighed on sentiment.
Concerns over tariff threats by US President-elect Donald Trump further dampened investor confidence.
In volatile trading, the 30-share Sensex fell 105.79 points to close at 80004.06 after dropping as much as 311.18 points during the day to 79798.67. The broader NSE Nifty declined 27.40 points to settle at 24194.50.
Laggards
Among the Sensex pack, UltraTech Cement, Adani Ports, Sun Pharma, NTPC, Tata Motors, Mahindra & Mahindra, Larsen & Toubro, and Power Grid were the major laggards.
On the other hand, Asian Paints, Infosys, JSW Steel, TCS, and Reliance Industries posted gains.
Global equity markets fell as investors reacted to Trump’s comments about imposing new tariffs on Mexico, Canada, and China after his inauguration on January 20.
In Asia, Seoul, Tokyo, and Shanghai closed lower, while Hong Kong ended higher. European markets also traded in the red, though US markets had closed higher on Monday.
Adani stocks
Adani group stocks all ended lower, with Adani Green Energy tumbling Rs7.05. Meanwhile, Brent crude oil prices climbed 0.71 to $73.58 per barrel.
On Monday, the Sensex had surged 992.74 points to 80109.85, while the Nifty rose 314.65 points to 24221.90, driven by the BJP’s strong performance in Maharashtra assembly elections.
Foreign Institutional Investors (FIIs), who had been net sellers in recent sessions, turned buyers, purchasing equities worth Rs9947.55 crore, according to exchange data.
