Stock Markets Fall For 3rd Day Amid Uncertainty Over Us Tariff Measures, Weak Asian Peers

Mumbai: Benchmark indices Sensex and Nifty declined for the third day on Thursday as fresh tariff threats, weak Asian markets and foreign fund outflows hurt investors' sentiment.

The 30-share BSE Sensex dropped 203.22 points or 0.27 per cent to settle at 75,735.96. During the day, it tanked 476.17 points or 0.62 per cent to 75,463.01.

The NSE Nifty dipped 19.75 points or 0.09 per cent to 22,913.15. Selling in frontline stocks HDFC Bank and ICICI Bank also dragged down the key indices.

From the Sensex pack, HDFC Bank, Maruti, Tech Mahindra, HCL Tech, ITC, ICICI Bank, Kotak Mahindra Bank and Bajaj Finance were among the biggest laggards.

NTPC, Adani Ports, Mahindra & Mahindra, Tata Steel and IndusInd Bank were among the gainers.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,881.30 crore on Wednesday after a day's breather, according to exchange data.

"Domestic equity indices experienced minor losses as rising concerns over potential US tariffs on Indian goods led to capital outflows. Additionally, the proposed trade policy is expected to exert inflationary pressures, with the latest Fed Minutes indicating that an interest rate cut may be delayed," Vinod Nair, Head of Research, Geojit Financial Services, said.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled in the negative territory.

European markets were trading mostly higher.

US markets ended in positive territory on Wednesday.

Global oil benchmark Brent crude went up 0.08 per cent to USD 76.10 a barrel.

Sensex dipped 28.21 points or 0.04 per cent to settle at 75,939.18 on Wednesday. The Nifty skidded 12.40 points or 0.05 per cent to 22,932.90.