Markets Plunge as Global Worries Mount
The Indian stock markets took a severe beating on Monday, with the benchmark indices closing deep in the red. Tracking weak global cues and mounting concerns over US tariffs, the Sensex tumbled 856 points to settle at 74,454, while the Nifty shed 242 points, ending at 22,553. The sell-off, driven by heavy foreign fund outflows and panic selling in tech stocks, wiped out significant investor wealth.
Tech Stocks Drag Markets Lower
IT giants bore the brunt of the meltdown, with Wipro, HCL Tech, TCS, and Infosys emerging as the biggest losers on the Nifty. The sector faced intense selling pressure amid fears that higher US tariffs could impact outsourcing revenues. Bharti Airtel also ended sharply lower, adding to the gloom.
Selective Gains Fail to Rescue Markets
Amid the sea of red, a few stocks managed to stay afloat. Mahindra & Mahindra, Dr. Reddy’s, and Eicher Motors were among the gainers, offering some respite to an otherwise battered market. However, their limited gains were not enough to offset the broader market carnage.
Foreign Investors in Exit Mode
The relentless selling by foreign institutional investors (FIIs) further exacerbated the market downturn. With global uncertainties looming large, FIIs have been steadily pulling out funds, leading to heightened volatility in domestic equities.
What Lies Ahead?
With the US tariff concerns still unfolding, investor sentiment remains fragile. Market participants will now closely watch policy developments, global cues, and institutional flows to gauge the direction of the markets in the coming days.
For now, caution is the buzzword as D-Street grapples with uncertainty and global headwinds.