Indian stock markets closed lower on Monday, with both the BSE Sensex and NSE Nifty ending in the red following US President Donald Trump’s announcement of new tariffs on steel and aluminium imports. The move, which includes additional reciprocal tariffs, led to selling pressure across key indices.
The Sensex declined by 548.39 points, or 0.70%, to close at 77,311.80, fluctuating between an intraday high of 77,849.58 and a low of 77,106.89. The Nifty fell by 178.35 points, or 0.76%, settling at 23,381.60 after touching a high of 23,568.60 and a low of 23,316.30.
Selling was seen across multiple sectors, pulling down benchmark indices. Out of the 50 Nifty stocks, 39 ended lower. Trent, Tata Steel, and Titan registered the biggest declines, with losses up to 4.48%. Some stocks, including Kotak Mahindra Bank, Bharti Airtel, Britannia, Tata Consumer Products, and HCL Tech, ended higher with gains up to 1.74%.
Broader markets followed the same trend. The Nifty Smallcap100 and Nifty Midcap100 indices fell by 2.12% and 2.11%, respectively. Volatility remained high, with the India VIX rising by 5.55 points to 14.45. All sectoral indices on the NSE closed lower.
Analysts indicated that concerns over the implementation of new US tariffs may contribute to further market fluctuations. The Nifty continues to decline after forming a lower top on the daily chart, according to Rupak De from LKP Securities. Weak global cues and Trump’s tariff announcement also weighed on investor sentiment, said Vikram Kasat from PL Capital-Prabhudas Lilladher.
Gold prices saw an increase, surpassing Rs 85,800 on MCX and reaching $2,900 in spot markets. Analysts attributed this to growing trade concerns, suggesting that gold may remain in a positive range of Rs 84,000-Rs 86,500 in the coming days.
-IANS
