Stock Market Today: Sensex Sinks 500 Points, Nifty Tests 22,750 Amid US Tariff Concerns
Stock Market Today: In the broader market, the BSE Midcap index remained flat, while the BSE Smallcap index fell over 1 per cent. Banking and auto stocks pressured the indices
India's benchmark indices, Sensex and Nifty, edged lower on February 21 as investor sentiment remained subdued, driven by concerns over potential US tariff retaliation and ongoing foreign selling. At 9:45 am, the Sensex dropped 200 points, or 0.3 per cent, to 75,535, while the Nifty slipped 65 points, or 0.3 per cent, to 22,848. On the NSE, 1,782 stocks advanced, while 563 declined. Both indices had closed at their lowest levels since early June during the previous session.
Among the Nifty 50 stocks, ICICI Bank, Dr Reddy's, Wipro, Kotak Mahindra, and M&M were the biggest laggards. Meanwhile, Tata Steel, NTPC, Hindalco, Eicher Motors, and Shriram Finance were among the top gainers.
Foreign institutional investors (FIIs) have pulled out Rs 33,527.55 crore worth of Indian equities so far this month.
Broader Market
In the broader market, the BSE Midcap index remained flat, while the BSE Smallcap index fell over 1 per cent. Banking and auto stocks pressured the indices, while the telecom and construction sectors provided some support.
In the previous trading session on Thursday, Indian markets ended lower for the third consecutive session, with the Nifty just managing to stay above 22,900. The decline was driven by broad-based selling across sectors, except for IT and banking. However, buying in broader indices helped recover some of the intraday losses. At the close, the Sensex was down by 203.22 points, or 0.27 per cent, at 75,735.96, while the Nifty lost 19.75 points, or 0.09 per cent, to settle at 22,913.15.
Among the major losers on the Nifty were HDFC Bank, Maruti Suzuki, Tech Mahindra, HCL Technologies, and Tata Consumer. On the upside, Shriram Finance, NTPC, Adani Ports, M&M, and Bharat Electronics led the gains. Both the BSE Midcap and Smallcap indices saw a rise of 1 per cent each.
US stocks extended their declines on Thursday, with concerns over tariffs and a weak earnings outlook from Walmart dampening investor sentiment. Meanwhile, Asia-Pacific markets were mixed as investors assessed Japan's inflation data while grappling with the potential impact of President Trump's proposed trade policies.
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