Synopsis : Indian markets slumped sharply amid renewed U.S. tariff threats and heavy selling in IT and telecom stocks. At Business Standard’s Manthan summit, Christopher Wood warned that India may attract stronger flows once the global AI capex cycle peaks.
Indian benchmark equity indices witnessed a sharp selloff on Tuesday, with the Sensex plunging as much as 850 points in early trade. Weakness in heavyweight stocks such as Bharti Airtel and IT majors dragged the market lower, while fresh tariff threats from U.S. President Donald Trump dampened global risk appetite.
At around 10:00 AM, the BSE Sensex was trading at 82,565, down 725 points or 0.9 per cent. The NSE Nifty 50 index slipped 200 points or 0.8 per cent to 25,511.
IT and Telecom Lead the Fall
Infosys and Bharti Airtel together accounted for over 250 points of the Sensex’s decline. Eternal emerged as the top percentage loser, sliding nearly 4 per cent. HCL Technologies, TCS, Tech Mahindra, Bharti Airtel and Infosys were down around 3 per cent each.
Other major losers included Bajaj Finance, Bharat Electronics, Trent and ITC, which fell over 1 per cent. On the positive side, SBI, Power Grid Corporation and Tata Steel managed marginal gains, offering limited support.
Broader markets mirrored the weakness, with the BSE MidCap 150 index declining 0.8 per cent and the SmallCap 250 dropping 1 per cent, indicating widespread risk aversion.
Tariff Concerns Weigh on Sentiment
Over the weekend, President Trump announced 15 per cent new temporary global tariffs and cautioned countries against backing away from recently negotiated trade agreements, despite a U.S. Supreme Court ruling declaring his earlier tariff measures unlawful. The renewed trade tensions have raised concerns about export-driven sectors and global growth prospects.
Christopher Wood at BS Manthan
Speaking at Business Standard’s Manthan summit in New Delhi, Jefferies Global Equity Strategy Head Christopher Wood described India as the “AI-reverse trade” globally. He noted that as long as artificial intelligence-related capital expenditure continues to surge in developed markets, India may underperform relative to peers. However, Wood suggested that India could attract stronger capital flows once the AI capex cycle peaks.
BS Manthan 2026 Begins
The third edition of Business Standard Manthan kicked off at Bharat Mandapam, New Delhi, bringing together over 40 leaders from diverse sectors for two days of discussions and policy insights.
Outlook
With global trade tensions resurfacing and sector-specific pressures intensifying, markets may remain volatile in the near term. Investors are expected to closely monitor global policy developments and capital flow trends.
Disclaimer : This article is for informational purposes only and does not constitute investment advice. Readers should consult a qualified financial advisor before making any investment decisions.
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