Stock market today (AI image)
Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, closed lower on Monday as sharp declines in heavyweight stocks such as Reliance Industries, Eternal and ICICI Bank weighed on sentiment, amid lingering uncertainty over global tariff developments. Traders said a weakening rupee and continued foreign fund outflows from domestic equities also unsettled investors.The BSE Sensex ended the session down 324.17 points, or 0.39 percent, at 83,246.18, after sliding as much as 672.04 points, or 0.80 percent, intraday to 82,898.31. The NSE Nifty fell 108.85 points, or 0.42 percent, to close at 25,585.50.Among Sensex constituents, Reliance Industries declined 3.04 percent after reporting an unchanged net profit of Rs 18,645 crore for the December quarter, with lower gas output and weakness in its retail business offsetting gains elsewhere. ICICI Bank, Eternal, Titan, Adani Ports, Tata Consultancy Services and UltraTech Cement also ended in the red. ICICI Bank dropped 2.26 percent following a 2.68 percent fall in its consolidated December-quarter profit to Rs 12,537.98 crore, impacted by a Rs 1,283-crore provision mandated by the RBI for agricultural loans incorrectly classified as priority sector lending. On a standalone basis, the lender posted a decline of over 4 percent in quarterly profit at Rs 12,883 crore. In contrast, InterGlobe Aviation, Tech Mahindra, Hindustan Unilever and Bajaj Finance recorded gains.Across Asian markets, South Korea’s Kospi and China’s Shanghai Composite closed higher, while Japan’s Nikkei 225 and Hong Kong’s Hang Seng ended lower. European markets were trading sharply down, and US equities finished marginally lower on Friday.“Global risk appetite weakened after US President Donald Trump announced fresh tariff threats against eight European countries, reviving fears of a possible US–EU trade conflict. This has triggered a broad risk-off sentiment in global equities, leading investors to move toward safe-haven assets such as gold,” said Vinod Nair, Head of Research at Geojit Investments Limited. He added that domestic sentiment remains cautious due to persistent FII selling, and with the third-quarter earnings season underway, stock-specific volatility is likely, especially where results have been uneven.The rupee slipped past the 91-per-dollar level for the second time this month before closing 14 paise lower at 90.92 against the US currency. Brent crude, the global oil benchmark, fell 1.22 percent to USD 63.35 per barrel.Exchange data showed foreign institutional investors sold shares worth Rs 4,346.13 crore on Friday, while domestic institutional investors purchased equities valued at Rs 3,935.31 crore. In the previous session, the Sensex had risen 187.64 points, or 0.23 percent, to 83,570.35, while the Nifty gained 28.75 points, or 0.11 percent, to end at 25,694.35.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
