Mumbai: Stock markets closed with losses for the fourth consecutive day on Monday with the benchmark Sensex falling by 548 points as fresh US tariff threats shook investor confidence and triggered selling in bluechip banking, metal and oil shares.
The BSE Sensex dropped 548.39 points or 0.70 percent to settle at a week’s low of 77,311.80. Intra-day, it tanked 753.3 points or 0.96 percent to 77,106.89. The NSE Nifty declined 178.35 points or 0.76 percent to 23,381.60 dragged by losses in Trent, Tata Steel and Power Grid.
“The US tariff threats continued to impact the market sentiment. Domestic yield is inching higher as investors stay cautious on riskier assets and navigate their investments to safe-haven assets like gold,” Vinod Nair, Head of Research, Geojit Financial Services, said.
From the 30-share Sensex pack, Power Grid, Tata Steel, Zomato, Titan, Bajaj Finance, Mahindra & Mahindra, NTPC and Tata Motors were among the major laggards.
Kotak Mahindra Bank, Bharti Airtel, HCL Tech, Tech Mahindra, ICICI Bank and Tata Consultancy Services were the gainers.
Sensex has dropped 1,272 points or 1.63 per cent while Nifty tanked 357 points or 1.51 per cent on the four-day decline since February 5.
The BSE smallcap gauge dropped 2.25 per cent and midcap index tanked 2.06 per cent. All BSE sectoral indices ended lower. Realty tumbled the most by 2.69 percent, followed by metal (2.63 percent), consumer durables (2.61 percent), utilities (2.49 percent) and consumer discretionary (1.94 percent).