Indian stock markets continued their losing streak on Monday, with both the Sensex and Nifty closing lower for the fifth consecutive session. The decline was largely driven by weak global cues, as U.S. markets fell due to concerns over slowing consumer demand and potential tariff hikes.
As per provisional data, FIIs have sold Rs 6287 crore in a single session today. This takes the total outflow for February to over Rs 40,000 crore.
Markets in red yet again
The Sensex closed at 74,454.41, down 1.14%, while the Nifty ended at 22,553.35, slipping 1.06%. The Nifty Bank also mirrored the overall market sentiment, closing at 48,655.90, down 0.66 for the day.
“Global headwinds continue to weigh on the domestic market, with persistent volatility causing uncertainty among retail investors, who generally have a lower risk appetite. Weak US consumer sentiment and tariff concerns may further pressure export-oriented sectors such as IT. Looking ahead, the pace of earnings downgrades is expected to ease, supported by increased government spending, lower interest rates, and tax reductions. These factors are likely to provide a boost to sectors such as FMCG, consumer discretionary, and banking,” said Vinod Nair, Head of Research, Geojit Financial Services.
Top gainers and losers
From the Sensex pack, the major gainers in the today’s trading session include M&M, Kotak Bank, Maruti, Nestle India and ITC. On the other hand, the laggards were HCL Tech, Zomato, TCS, Infosys and Tech Mahindra.
From the Nifty 50, the top 5 gainers are M&M, Dr Reddy’s Laboratories, Eicher Motors, Hero MotoCorp, and Nestle India. The major loser include Wipro, HCL Tech, TCS, Infosys an Bharti Airtel.
Gold rate today
Gold prices saw a slight dip on Monday, with 24 carat gold price today at Rs 8,793.3 per gram, down by Rs 10. Similarly, 22-carat gold fell by Rs 10, bringing the price to Rs 8,061.3 per gram, according to Good Returns.
For a broader perspective, the price of 10 grams of 22-carat gold stands at Rs 80,550, while 10 grams of 24-carat gold is priced at Rs 87,870.
“Gold prices eased on Friday as investors booked profits from the previous session’s record high, but were set for an eighth straight weekly gain, driven by strong safe-haven demand amid concerns over U.S. President Donald Trump’s tariff plans. Prices have shattered two record highs last week to trade above $2,950, as uncertainties surrounding global economic growth and political instability have underscored investor appetite for bullion,” said Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial service.
“Trump’s fresh bout of tariff plans announced earlier this week includes duties on lumber and forest products, on top of previously announced plans to impose duties on imported cars, semiconductors and pharmaceuticals. This is after the imposition of an additional 10% tariff on Chinese imports and a 25% tariff on steel and aluminium. Despite all this we have witnessed a sharp fall in Dollar index hovering around 106 supporting prices on lower end. Focus this week will be on US GDP, Inflation, consumer confidence and durables goods orders data,” he added.