New Delhi: Indian equity markets faced sharp declines for the second consecutive day amid geopolitical concerns. The BSE Sensex fell 376.28 points (0.42%), closing at 85,063.34, while the Nifty 50 dropped 71.60 points (0.27%) to settle at 26,178.70.
Major losses were seen in Reliance Industries, Trent, HDFC Bank, and Infosys. Reliance shares plunged nearly 5% during the trading session, wiping ₹1 lakh crore off its market capitalization—the steepest intraday fall since June 24, 2024. Among Nifty constituents, Trent, Reliance, and Tata Motors Passenger Vehicle shares suffered the largest declines. Conversely, Apollo Hospitals, Bajaj Auto, and ICICI Bank were among the top gainers.
Sector Performance:
- Decliners: Nifty Oil & Gas, Nifty Chemicals
- Gainers: Nifty Financial Services, Nifty Pharma
Trent, the Tata Group retail company, saw its stock drop over 8%, adding to investor concerns.
Reason for the Decline
The fall comes on the heels of Monday’s losses, when Sensex had dropped 332 points and Nifty fell 0.3% to 26,250. Market volatility escalated after U.S. President Donald Trump warned that India could face additional tariffs if it does not reduce crude oil imports from Russia. Currently, a 50% tariff exists on Indian goods, with 25% applied due to oil imports from Russia.
Analysts say that the threat of higher tariffs on key Indian exports has rattled investors, particularly in sectors sensitive to global trade and energy prices, triggering a broad-based market sell-off.
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