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Benchmark Sensex tanked 1,235 points to settle at more than seven-month low due to an across-the-board selloff triggered by global trade war worries after U.S. President Donald Trump announced tariffs on neighbouring countries on his inauguration day.

The 30-share BSE Sensex plummeted 1,235.08 points or 1.60% to settle at 75,838.36 dragged by losses in ICICI Bank and Reliance Industries. During the day, the BSE benchmark plummeted 1,431.57 points or 1.85% to hit an intraday low of 75,641.87.

The broader NSE Nifty plunged 320.10 points or 1.37% to close at 23,024.65. In the intraday trade, the NSE Nifty plunged 367.9 points or 1.57% to 22,976.85.

“Domestic markets experienced a significant decline today, with heightened volatility, followed by Trump’s announcement of trade tariffs on neighbouring countries on his inauguration day, adding uncertainty into global markets. The weak recovery in the ongoing Q3 earnings, coupled with a depreciating INR, are likely to prompt further outflows from FIIs,” Vinod Nair, Head of Research, Geojit Financial Services said.

Among Sensex shares, Zomato, NTPC, Adani Ports, ICICI Bank, State Bank of India, Reliance Industries, Mahindra & Mahindra, Bajaj Finance, Tech Mahindra and Axis Bank were the major laggards.

UltraTech Cement and HCL Technologies were the only gainers.

European markets were trading higher on Tuesday (January 21, 2025).

In Asian markets, Tokyo and Hong Kong ended higher, while Shanghai and Seoul settled on a flat note on Tuesday (January 21, 2025). US markets were closed on Monday (January 20, 2025) on the occasion of Martin Luther King Jr Day.

Global oil benchmark Brent crude slipped 0.76% to $79.54 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹4,336.54 crore on Monday (January 20, 2025), according to exchange data.

On Monday (January 20, 2025), the 30-share BSE Sensex jumped 454.11 points to settle at 77,073.44 and NSE Nifty climbed 141.55 points to close at 23,344.75.

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| Photo Credit: Reuters

Benchmark indices Sensex and ticked higher for the second straight session on Wednesday (January 15, 2025), buoyed by buying in bellwether stock Reliance Industries, Zomato and Kotak Bank amid a largely firm trend in global markets.

However, elevated crude oil prices in the international markets and buying by foreign investors weighed on market sentiment, traders said.

The 30-share BSE index climbed 224.45 points or 0.29% to close at 76,724.08. During the day, it jumped 491.42 points or 0.64% to 76,991.05.

As many as 2,150 stocks advanced while 1,806 declined and 108 remained unchanged on the BSE.

The NSE Nifty advanced 37.15 points or 0.16% to 23,213.20.

“The domestic market continues to be volatile on account of elevated US bond yields, strengthening dollar, and increasing FIIs outflows. Global markets are cautious ahead of the US December CPI inflation data, which is anticipated to be in the elevated range in the short term, limiting the U.S. Fed’s ability to cut rates.

“Also, a rise in oil prices and dollar appreciation is likely to affect domestic inflation in the near future,” Vinod Nair, Head of Research, Geojit Financial Services, said.

From the Sensex blue-chip pack, Zomato jumped over 4%. NTPC, Power Grid, Kotak Mahindra Bank, Maruti, Tech Mahindra, Larsen & Toubro, Reliance Industries and Adani Ports were the other big gainers.

Mahindra & Mahindra, Bajaj Finserv, Bajaj Finance, Axis Bank and Tata Motors were among the laggards.

The BSE smallcap gauge climbed 0.34%, and the midcap index went up by 0.11%.

Among BSE sectoral indices, utilities jumped 2.45%, power (1.75%), realty (1.58%), services (0.98%), BSE Focused IT (0.74%) and consumer discretionary (0.62%).

Auto, oil & gas, FMCG and healthcare were the laggards.

“Markets traded in a subdued manner and ended marginally higher, extending Tuesday’s trend. The market seems to be pausing as recovery attempts face resistance, though select heavyweight stocks are limiting the downside. Investors are now closely eyeing earnings from Reliance, Infosys, and Axis Bank for directional cues,” Ajit Mishra – SVP, Research, Religare Broking Ltd, said. In Asian markets, Hong Kong settled in the positive territory, while Seoul, Tokyo and Shanghai ended lower.

European markets were quoting higher. U.S. markets ended mostly higher on Tuesday (January 14, 2025).

The rupee settled with a gain of 13 paise at 86.40 (provisional) against the U.S. dollar on Wednesday (January 14, 2025).

Global oil benchmark Brent crude climbed 0.38% to $80.22 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹8,132.26 crore on Tuesday (January 14, 2025), according to exchange data.

In the previous session, the BSE benchmark rose 169.62 points or 0.22% to settle at 76,499.63. The Nifty climbed 90.10 points or 0.39% to 23,176.05.