Stock markets fall as US tariff concerns, earnings worries sour sentiment
11 Feb 2025 1:52 PM IST
Both the Nifty 50 and Sensex lost about 1.5% in the last four sessions
Indian shares fell on Tuesday, tracking other Asian peers, as concerns around U.S. trade policy and lacklustre domestic earnings continued to sap investor sentiment. (File image)
Indian shares fell on Tuesday, tracking other Asian peers, as concerns around U.S. trade policy and lacklustre domestic earnings continued to sap investor sentiment.
The Nifty 50 was down 0.47% at 23,271 as of 10:33 a.m. IST, while the BSE Sensex shed 0.44% to 76,975.9. As of 1.30 pm, BSE Sensex declined 1.44% to 76, 195.47.
The Nifty 50 was down 0.47% at 23,271 as of 10:33 a.m. IST, while the BSE Sensex shed 0.44% to 76,975.9. As of 1.30 pm, BSE Sensex declined 1.44% to 76, 195.47.
All 13 major sectors declined, while the broader smallcaps and midcaps lost 2.5% and 2%, respectively.
Other Asian markets were also subdued, with the MSCI Asia ex-Japan losing 0.3% due to worries around President Donald Trump's tariff policies.
Trump on Monday raised tariffs on steel and aluminium imports to 25% "without exceptions or exemptions" and said he would announce plans to impose reciprocal levies on several countries in the next two days.
The ongoing decline in Indian equities is driven by uncertainty on U.S. tariffs, said UR Bhat, co-founder of investment firm Alphaniti Fintech, with some analysts adding that the bearish undertone is being fuelled by slowing earnings and sustained foreign outflows.
Both the Nifty 50 and Sensex lost about 1.5% in the last four sessions.
Foreign investors have offloaded Indian shares worth $9.94 billion so far this year.
On Tuesday, financials slipped 1%, led by a 1% decline in HDFC Bank.
Eicher Motors lost 6% after missing quarterly profit and margin estimates, hurt by high costs and lower sales of its high-margin motorcycles. The decline dragged the auto index 1.3% lower.
In contrast, most Adani Group companies gained, with flagship firm Adani Enterprises rising 4%, after Trump signed an executive order directing the U.S. Justice Department to loosen enforcement of a law banning bribery of foreign officials.
Last year, U.S. authorities accused Adani Group executives of being part of a $265 million bribery scheme to secure Indian solar power supply contracts. The conglomerate has denied the allegations.
Other Asian markets were also subdued, with the MSCI Asia ex-Japan losing 0.3% due to worries around President Donald Trump's tariff policies.
Trump on Monday raised tariffs on steel and aluminium imports to 25% "without exceptions or exemptions" and said he would announce plans to impose reciprocal levies on several countries in the next two days.
The ongoing decline in Indian equities is driven by uncertainty on U.S. tariffs, said UR Bhat, co-founder of investment firm Alphaniti Fintech, with some analysts adding that the bearish undertone is being fuelled by slowing earnings and sustained foreign outflows.
Both the Nifty 50 and Sensex lost about 1.5% in the last four sessions.
Foreign investors have offloaded Indian shares worth $9.94 billion so far this year.
On Tuesday, financials slipped 1%, led by a 1% decline in HDFC Bank.
Eicher Motors lost 6% after missing quarterly profit and margin estimates, hurt by high costs and lower sales of its high-margin motorcycles. The decline dragged the auto index 1.3% lower.
In contrast, most Adani Group companies gained, with flagship firm Adani Enterprises rising 4%, after Trump signed an executive order directing the U.S. Justice Department to loosen enforcement of a law banning bribery of foreign officials.
Last year, U.S. authorities accused Adani Group executives of being part of a $265 million bribery scheme to secure Indian solar power supply contracts. The conglomerate has denied the allegations.
( Source : Reuters )
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