Mumbai: Benchmark stock indices Sensex and Nifty closed lower on Monday tracking weak global markets amid concerns over US President Donald Trump imposing tariffs on some of its trading partners.
The 30-share BSE Sensex declined 319.22 points or 0.41 per cent to settle at 77,186.74, snapping its five-day rally. Intra-day, it tumbled 749.87 points or 0.96 per cent to 76,756.09.
The NSE Nifty declined 121.10 points or 0.52 per cent to 23,361.05.
The market capitalisation of BSE-listed firms eroded by Rs 4,29,823.69 crore to Rs 4,19,54,829.60 crore ($4.82 trillion) tracking weak trends in equities.
From Sensex shares, Larsen & Toubro, Tata Motors, Hindustan Unilever, Asian Paints, ITC, Power Grid, NTPC and Reliance Industries were the major laggards.
Among the gainers, Bajaj Finance jumped over 5 per cent. Mahindra & Mahindra, Bajaj Finserv, Bharti Airtel and Maruti also ended higher.
“Slump in global equity markets weighed negatively on Indian benchmarks after Trump announced tariffs on China, Mexico and Canada which fuelled pessimism amongst the investors. Besides, the rupee depreciating sharply raised concerns that foreign investors are unlikely to reverse the selling trend,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.
The 25 per cent tariff on most imports from Canada and Mexico and 10 per cent tariff on goods from China will take effect from Tuesday.
The BSE smallcap gauge tanked 1.77 per cent and midcap index declined 0.89 per cent.
Among BSE sectoral indices, capital goods tanked 4.29 per cent, industrials (3.79 per cent), power (3.30 per cent), utilities (2.71 per cent), oil & gas (2.52 per cent) and metal (1.99 per cent).
BSE healthcare, IT, consumer durables, teck and BSE Focused IT were the gainers.
As many as 2,877 stocks declined while 1,139 advanced and 168 remained unchanged on the BSE.
The BSE Sensex had closed marginally up 5.39 points at 77,505.96 on Saturday. The Nifty dipped 26.25 points to 23,482.15.