Stock market today: BSE Sensex ends over 300 points down; Nifty50 above 23,350

Nifty maintains positive momentum but faces resistance at 23,500-23,600 levels. (AI image)

Stock market today: Stock indices Sensex and Nifty ended lower on Monday following weak global markets due to concerns about US President Donald Trump’s tariff implementation on trading partners. The BSE Sensex fell 319.22 points (0.41%) to 77,186.74, ending its five-day upward trend. During trading, it fell 749.87 points (0.96%) to 76,756.09. The NSE Nifty dropped 121.10 points (0.52%) to 23,361.05.
Among Sensex components, major decliners included Larsen & Toubro, Tata Motors, Hindustan Unilever, Asian Paints, ITC, Power Grid, NTPC and Reliance Industries.
Bajaj Finance led the gainers with over 5% increase. Other advancing stocks included Mahindra & Mahindra, Bajaj Finserv, Bharti Airtel and Maruti.
Asian markets in Seoul, Tokyo and Hong Kong closed significantly lower. European markets experienced substantial losses, while US markets finished lower on Friday.
“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 tariffs of 25% on Canadian and Mexican imports and 10% on Chinese goods will commence from Tuesday.
“The global market got unsettled amid the onset of the ‘Trade War,’ as tariff conflicts between the US and other nations are unlikely to yield any economic benefits. Instead, it may cause challenges to the global economy, heightening global financial risks,” Vinod Nair, Head of Research, Geojit Financial Services, said.
Brent crude, the global oil benchmark, rose 1.15% to USD 76.50 per barrel.
On Saturday, the BSE benchmark achieved a slight gain of 5.39 points (0.01%) to 77,505.96 amid high volatility. The Nifty decreased by 26.25 points (0.11%) to 23,482.15. Markets operated on Saturday for the Union Budget presentation.
According to exchange data, Foreign Institutional Investors (FIIs) sold equities worth Rs 1,327.09 crore on Saturday.