On Tuesday, Mumbai’s stock market closed lower as investors took profits from the recent rally, sending a broad dip across the main indices. Negative sentiment deepened after reports emerged that US President Donald Trump could impose new tariffs on Indian rice, stoking fresh fears over stalled India‑US trade talks. At the close, the Sensex finished at 84,666.28, down 436.41 points (‑0.51 %). The Nifty slipped to 25,839.65, a drop of 120.90 points (‑0.47 %).
Heavyweights such as Asian Paints, Tech Mahindra, HCL Tech, Tata Steel, Maruti Suzuki, Sun Pharma, TCS, ICICI Bank, and Bajaj Finance all registered losses, some falling as much as 4.6 % during the session. In contrast, stocks like Eternal, Titan, Adani Ports, BEL, and SBI managed modest gains, providing a modest lift to the benchmarks.
Mid‑cap and small‑cap investors, however, found room to gain: the Nifty MidCap index rose 0.32 % while the Nifty SmallCap climbed 1.14 %, signalling continued interest in those segments. Most sector indices—Nifty IT, Auto, and Pharma—fell almost 1 %, with other groups such as PSU Bank, FMCG, Media, Consumer Durables, and Chemicals also trading in the red throughout the day.
Analysts noted that global trade anxieties and the routine book‑profit trend kept the market subdued as traders stayed wary about further moves on the US‑India tariff issue. “In the short term, commentary from the central bank, currency swings, and FII flows will shape sentiment, while domestic macro resilience should help cushion against downside risks,” observers remarked. “While the markets largely anticipate a 25‑bps Fed rate cut and a BoJ rate hike, forward guidance in 2026 will be pivotal,” they added.
Meanwhile, the rupee edged up 23 paise to 89.82, reflecting spot‑market buying after the modest equity rebound.
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