The Indian market closed lower on Monday, with benchmark indices logging their worst session in 10 months as an intensifying tariff-fueled selloff and rising global recession fears drove investors away from riskier assets.
The benchmark BSE Sensex declined 2226.79 points or 2.95% to close at 73,137.90, while the broader Nifty 50 index closed at 22,161.60, lower by 742.85 points or 3.24%.
Here's how analysts read the market pulse:
The market tumbled as the carnage over high U.S. tariffs and the retaliation by other countries may kickstart a trade war, said Vinod Nair, Head of Research at Geojit Investments, adding that sectors like IT and metals have underperformed relative to the broader market due to the risk of high inflation with slower growth that may result in a potential recession in the US.
“Though the overall impact on India may be limited when compared with other countries, investors are advised to play cautiously during this fray. Focus will be on pure-play domestic themes, where the rebound is likely to be fair when the dust settles," said Nair.
Also read | 5 Wall Street moguls who dismissed Bitcoin as a fad — Guess what they’re saying now!
US markets
U.S. stocks have been hammered by the Trump administration's plans to impose sweeping tariffs on all imports into the United States as well as more levies on some major trading partners.
At one point during the morning, however, stocks suddenly reversed course and rallied after a report that Trump was considering a 90 day pause on tariffs. But White House officials quickly denied the report, sending the market back in the red.
Trump announced hefty tariffs against U.S. trading partners last week, sparking retaliation from China and fueling concerns that the trade war will impede economic growth and stoke inflationary pressures.
Trump told reporters late on Sunday that investors must endure the consequences and that he would refrain from negotiating with China until the U.S. trade deficit is addressed.
European stocks
European shares slumped in a volatile session on Monday, with the STOXX 600 closing at its lowest since January 2024, as U.S. President Donald Trump showed no signs of letting up in his aggressive trade war.
The pan-European STOXX 600 dropped 4.5%, down for the fourth straight session. Major bourses closed down between 4% to over 5%.
Trade-sensitive Germany's benchmark index dove as much as 6.4%, at one point down more than 20% from its March all-time closing high and on track to confirm a bear market, though it pared some losses to close down 4.3%.
The volatility index leapt to an over three year high of 46.72.
Tech View
The Nifty has fallen back into a descending channel on the daily timeframe as bearish sentiment rose amid escalating trade tensions between countries, said Rupak De, Senior Technical Analyst at LKP Securities, adding that the index slipped by more than 1,000 points at one point but recovered to close 418 points off the low.
“For the day, the index found support around the multiple support zones near 21,700. In the short term, the trend remains weak. On the higher side, resistance is placed at 22,350 and 22,550. On the lower side, support is seen at 21,900, below which the decline is likely to resume," said De.
Also read | Explained: Why banks are flying gold worth billions from London to New York amid Trump tariff fears
Most active stocks in terms of turnover
Trent (Rs 3,577 crore), HDFC Bank (Rs 3,342 crore), Infosys (Rs 2,965 crore), Tata Motors (Rs 2,786 crore), Reliance Industries Ltd (Rs 2,549 crore), Bharti Airtel (Rs 2,540 crore) and ICICI Bank (Rs 2,540 crore) were among the most active stocks on BSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.
Most active stocks in volume terms
Vodafone Idea (Traded shares: 68.34 crore), YES Bank (Traded shares: 12.24 crore), Tata Steel (Traded shares: 12.18 crore), Suzlon Energy (Traded shares: 8.19 crore), IDFC First Bank (Traded shares: 7.17 crore), Zomato (Traded shares: 6.49 crore) and GMR Airports (Traded shares: 5.79 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of 360 One Wam, Delhivery, Vedant Fashions, Linde India, Aegis Logistics, GMR Airports and Westlife Foodworld were among the stocks that witnessed strong buying interest from market participants.
52 Week high
Over 59 stocks hit their 52 week highs today while 775 stocks slipped to their 52-week lows.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Siemens, Trent, Godawari Power, Jindal Saw, Authum Investment & Infrastructure, Brainbees Solutions and Wockhardt.
Sentiment meter bearish
The market sentiments were bearish. Out of the 4,225 stocks that traded on the BSE on Monday, 3,515 stocks witnessed declines, 570 saw advances, while 140 stocks remained unchanged.
Also read | Trump’s tariff bombshell sparks US recession fears—Will India pay the price?
( Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
The benchmark BSE Sensex declined 2226.79 points or 2.95% to close at 73,137.90, while the broader Nifty 50 index closed at 22,161.60, lower by 742.85 points or 3.24%.
Here's how analysts read the market pulse:
The market tumbled as the carnage over high U.S. tariffs and the retaliation by other countries may kickstart a trade war, said Vinod Nair, Head of Research at Geojit Investments, adding that sectors like IT and metals have underperformed relative to the broader market due to the risk of high inflation with slower growth that may result in a potential recession in the US.
“Though the overall impact on India may be limited when compared with other countries, investors are advised to play cautiously during this fray. Focus will be on pure-play domestic themes, where the rebound is likely to be fair when the dust settles," said Nair.
Also read | 5 Wall Street moguls who dismissed Bitcoin as a fad — Guess what they’re saying now!
US markets
U.S. stocks have been hammered by the Trump administration's plans to impose sweeping tariffs on all imports into the United States as well as more levies on some major trading partners.
At one point during the morning, however, stocks suddenly reversed course and rallied after a report that Trump was considering a 90 day pause on tariffs. But White House officials quickly denied the report, sending the market back in the red.
Trump announced hefty tariffs against U.S. trading partners last week, sparking retaliation from China and fueling concerns that the trade war will impede economic growth and stoke inflationary pressures.
Trump told reporters late on Sunday that investors must endure the consequences and that he would refrain from negotiating with China until the U.S. trade deficit is addressed.
European stocks
European shares slumped in a volatile session on Monday, with the STOXX 600 closing at its lowest since January 2024, as U.S. President Donald Trump showed no signs of letting up in his aggressive trade war.
The pan-European STOXX 600 dropped 4.5%, down for the fourth straight session. Major bourses closed down between 4% to over 5%.
Trade-sensitive Germany's benchmark index dove as much as 6.4%, at one point down more than 20% from its March all-time closing high and on track to confirm a bear market, though it pared some losses to close down 4.3%.
The volatility index leapt to an over three year high of 46.72.
Tech View
The Nifty has fallen back into a descending channel on the daily timeframe as bearish sentiment rose amid escalating trade tensions between countries, said Rupak De, Senior Technical Analyst at LKP Securities, adding that the index slipped by more than 1,000 points at one point but recovered to close 418 points off the low.
“For the day, the index found support around the multiple support zones near 21,700. In the short term, the trend remains weak. On the higher side, resistance is placed at 22,350 and 22,550. On the lower side, support is seen at 21,900, below which the decline is likely to resume," said De.
Also read | Explained: Why banks are flying gold worth billions from London to New York amid Trump tariff fears
Most active stocks in terms of turnover
Trent (Rs 3,577 crore), HDFC Bank (Rs 3,342 crore), Infosys (Rs 2,965 crore), Tata Motors (Rs 2,786 crore), Reliance Industries Ltd (Rs 2,549 crore), Bharti Airtel (Rs 2,540 crore) and ICICI Bank (Rs 2,540 crore) were among the most active stocks on BSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.
Most active stocks in volume terms
Vodafone Idea (Traded shares: 68.34 crore), YES Bank (Traded shares: 12.24 crore), Tata Steel (Traded shares: 12.18 crore), Suzlon Energy (Traded shares: 8.19 crore), IDFC First Bank (Traded shares: 7.17 crore), Zomato (Traded shares: 6.49 crore) and GMR Airports (Traded shares: 5.79 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of 360 One Wam, Delhivery, Vedant Fashions, Linde India, Aegis Logistics, GMR Airports and Westlife Foodworld were among the stocks that witnessed strong buying interest from market participants.
52 Week high
Over 59 stocks hit their 52 week highs today while 775 stocks slipped to their 52-week lows.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Siemens, Trent, Godawari Power, Jindal Saw, Authum Investment & Infrastructure, Brainbees Solutions and Wockhardt.
Sentiment meter bearish
The market sentiments were bearish. Out of the 4,225 stocks that traded on the BSE on Monday, 3,515 stocks witnessed declines, 570 saw advances, while 140 stocks remained unchanged.
Also read | Trump’s tariff bombshell sparks US recession fears—Will India pay the price?
( Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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