Synopsis : Indian equities tumbled on Tuesday as tariff concerns and global uncertainties weighed on investor sentiment. Sensex fell over 500 points, while Nifty tested 24,800 amid heavy selling across pharma, metals, and banks.
Indian stock markets witnessed a sharp sell-off on Tuesday, dragged lower by weak global cues and renewed tariff worries. At 11 AM, the BSE Sensex was down 589 points (0.72%) at 81,046, while the NSE Nifty50 dropped 137 points (0.70%) to 24,794.
The decline comes ahead of fresh U.S. tariffs set to be imposed from Wednesday, which spooked Dalal Street investors. Adding to the uncertainty, U.S. President Donald Trump moved to dismiss Federal Reserve Governor Lisa Cook over allegations of falsifying mortgage documents. Trump also threatened new export curbs on chips, retaliating against countries levying digital services taxes.
Market Movers:
Selling pressure was intense across frontline stocks, with Sun Pharma, Tata Steel, ICICI Bank, BEL, Adani Ports, Bharti Airtel, Power Grid, Tata Motors, HDFC Bank, NTPC, Axis Bank, and Trent leading the Sensex losers.
The broader markets followed suit, with the Nifty MidCap index slipping 0.88% and the Nifty SmallCap index down 0.90%. Sectorally, the Nifty Pharma index was the biggest laggard, falling 1.36%, followed by Realty (-1%), Metal (-0.77%), and PSU Banks (-0.68%). In contrast, the Nifty FMCG index was the sole bright spot, eking out modest gains of 0.09%.
Technical Outlook:
According to Shrikant Chouhan, Head of Equity Research at Kotak Securities, the market is showing a non-directional intraday trend, making level-based trading crucial. For bulls, 25,000 remains the breakout point, with an upside potential towards 25,150–25,200. On the downside, support lies at 24,900–24,850. A breach below 24,850 drag Nifty further towards 24,750–24,700.
Disclaimer : This article is for informational purposes only and does not constitute financial or investment advice. Readers should consult certified financial experts before making any trading or investment decisions.
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