Indian Stock Market Dips Over 1% Amid US Tariff Concerns

Synopsis

On February 11, the Indian stock market continued its downward trajectory as both Sensex and Nifty closed in the red due to investor anxiety over new tariff measures announced by US President Donald Trump. Market experts attribute this decline to uncertainty surrounding US trade policies.

Key Takeaways

Sensex fell by 1,018.20 points.
Nifty dropped by 309.80 points.
44 out of 50 Nifty stocks ended in the red.
Major declines observed in Eicher Motors and Apollo Hospitals.
Concerns raised by Indian Steel Association over US tariffs.

Mumbai, Feb 11 (NationPress) The Indian stock market observed a continued downward trend on Tuesday, with both Sensex and Nifty closing the day in negative territory as investors expressed their concerns regarding the recent tariff actions taken by US President Donald Trump.

By the end of trading, the Sensex fell by 1,018.20 points, which is 1.32 percent, closing at 76,293.60. Throughout the trading session, the index showed volatility, peaking at 77,387.28 and dipping to a low of 76,030.59.

In a similar vein, the Nifty concluded the day down by 309.80 points, or 1.32 percent, to finish at 23,071.80. The index reached a high of 23,390.05 but fell to a low of 22,986.65.

The market experienced a widespread sell-off, with 44 out of 50 Nifty stocks closing in the negative zone.

Among the biggest losers were Eicher Motors, Apollo Hospitals, Shriram Finance, Coal India, and Bharat Electronics, suffering declines of up to 6.70 percent.

Conversely, only six stocks, including Adani Enterprises, Trent, Grasim, Bharti Airtel, and Hindalco, managed to remain positive, with gains up to 0.76 percent.

The selling pressure extended beyond large-cap stocks, hitting broader markets even harder. The Nifty Smallcap100 plummeted by 3.45 percent, while the Nifty Midcap100 dropped by 3.02 percent.

Market analysts suggest that the ongoing uncertainty regarding US trade policies and the ramifications of tariffs on global trade have contributed to weak investor sentiment.

All sectoral indices on the NSE closed negatively due to the broad-based selling pressure.

The Nifty PSU Bank, Auto, Healthcare, Realty, and Media indices experienced the most significant declines, with losses reaching up to 3.28 percent.

Additionally, sectors such as IT, FMCG, and consumer durables also faced challenges, ending the session down by more than 1 percent each.

In a related development, the Indian Steel Association (ISA) has voiced serious concerns about the recent US decision to impose tariffs on steel imports, urging the Indian government to advocate for the removal of long-standing anti-dumping and countervailing duties and to seek exemptions from these restrictive measures.

The new tariffs are anticipated to reduce steel exports to the US by 85 percent, potentially resulting in a significant steel surplus that could inundate the Indian market, according to ISA.