MUMBAI: Equity markets slipped for the fourth straight session on Monday, with the Sensex tumbling 548 points as fresh US tariff threats rattled investor sentiment, leading to a sell-off in banking, metal, and oil stocks. Foreign fund outflows further weighed on market confidence.
The BSE Sensex declined 548.39 points or 0.70 per cent to close at Rs77,311.80, hitting a one-week low. The index plunged as much as 753.3 points or 0.96 per cent intra-day, touching Rs77,106.89 before recovering some losses.
The NSE Nifty lost 178.35 points or 0.76 per cent to settle at Rs23,381.60, dragged down by declines in Trent, Tata Steel, and Power Grid.
Tariff fears
“The US tariff threat continues to spook markets. Meanwhile, domestic yields are inching higher as investors seek refuge in safe-haven assets like gold, reducing exposure to equities,” said Vinod Nair, Head of Research, Geojit Financial Services.
Over the past four sessions, the Sensex has lost 1,272 points or 1.63 per cent, while the Nifty has shed 357 points or 1.51 per cent, reflecting a broader risk-off mood.
Among Sensex stocks, the worst performers were Power Grid, Tata Steel, Zomato, Titan, Bajaj Finance, Mahindra & Mahindra, NTPC, and Tata Motors.
On the flip side, Kotak Mahindra Bank, Bharti Airtel, HCL Tech, Tech Mahindra, ICICI Bank, and Tata Consultancy Services ended in the green.
Global cues
While Seoul ended in the red, markets in Tokyo, Shanghai, and Hong Kong closed higher. European indices were also trading in positive territory, though Wall Street closed lower on Friday.
Foreign Institutional Investors (FIIs) offloaded Rs470.39 crore worth of equities on Friday, further pressuring domestic markets.
Meanwhile, Brent crude climbed 1.04 per cent to $75.44 a barrel, adding to inflationary concerns.
