Synopsis
On March 4, Indian stock markets saw a slight decline, with the Sensex and Nifty closing lower amid the implementation of US trade tariffs on Canada and Mexico. Investor sentiment was further affected by Canada's retaliatory measures.Key Takeaways
- Indian stock markets closed lower due to US tariffs.
- The Sensex dipped by 96 points to end at 72,989.93.
- The Nifty fell by 36.65 points, closing at 22,082.65.
- Most Nifty stocks experienced declines, with 28 closing lower.
- Investors advised to focus on quality businesses amid volatility.
Mumbai, March 4 (NationPress) The Indian stock markets experienced a slight dip on Tuesday, with both the Sensex and Nifty finishing in negative territory as US trade tariffs on Canada and Mexico took effect today.
This was exacerbated by Canada’s retaliatory tariffs on US goods, which further affected investor sentiment.
The 30-share Sensex concluded the day at 72,989.93, down by 96 points, or 0.13 percent, compared to its previous close. Throughout the trading session, the index fluctuated between 73,033.18 and 72,633.54.
Similarly, the Nifty ended lower at 22,082.65, a decline of 36.65 points, or 0.17 percent, during intra-day trading.
During the session, the index peaked at 22,105.05 and bottomed at 21,964.60.
In the broader market, the Nifty Smallcap100 index increased by 0.69 percent, while the Nifty Midcap100 saw a minor rise of 0.05 percent.
Among the 50 stocks that constitute the Nifty, 28 closed lower, with significant declines in shares of Bajaj Auto, Hero MotoCorp, Bajaj Finserv, HCL Tech, and Eicher Motors, which dropped by as much as 4.95 percent.
Conversely, 22 stocks saw gains, including Adani Enterprises, State Bank of India (SBI), BPCL, Bharat Electronics, and Shriram Finance, which rose by up to 3.03 percent.
Sector-wise performance was mixed; sectors such as PSU Bank, Bank Nifty, financial services, consumer durables, media, metal, oil & gas, and realty experienced gains of up to 2.37 percent.
In contrast, sectors including Nifty Auto, IT, Pharma, and FMCG faced losses, with declines reaching up to 1.31 percent.
The Nifty Private Bank index also recorded a slight dip of 0.08 percent.
“The recent downturn in small and midcap stocks illustrates profit booking following a robust rally, exacerbated by global market uncertainties,” commented Abhishek Jaiswal, Fund Manager at Finavenue.
He emphasized that while short-term fluctuations are to be expected, the underlying fundamentals of quality midcap firms remain strong, buoyed by India’s robust economic growth and ongoing structural reforms.
Investors should focus on companies with solid balance sheets and sustainable earnings growth, rather than reacting to short-lived market changes, Jaiswal advised.
