The domestic key equity indices ended on a lower note as they took a hit from US President Donald Trump’s 25% tariff threat. The NSE Nifty 50 closed the session 26 points or 0.11% at 22,906.75, while the BSE Sensex declined 222.76 points or 0.29% to finish at 75,716.42.
The banking and financial services stocks remained the key losers during the session. The Nifty Bank ceased the day 0.48% lower at 49,334.55 while the Nifty Financial Services closed 0.75% lower at 23,281.40. However, the PSU bank stocks traded higher.
The Nifty Bank lost 277.55 points or 0.56% to close at 49,292.55. Bucking the overall trend, the Nifty Midcap 100 saw buying and closed the day 647.90 points, or 1.28%, higher at 51,175.15.
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In the broader markets, small- and mid-cap stocks closed the day on a positive note. The volatility index India VIX cooled down 4.57% to 14.72 level.
HDFC Bank (2.39%) was the significant loser in the Nifty 50, followed by Maruti Suzuki (2.10%), Tech Mahindra (1.71%), Tata Consumer Products (1.59%), and HCL Technologies (1.25%). Meanwhile, Shriram Finance, NTPC, M&M, BEL, and Adani Ports & SEZ were the top gainers in the Nifty 50.
“Domestic equity indices experienced minor losses as rising concerns over potential U.S. 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,” said Vinod Nair, Head of Research at Geojit Financial Services.
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