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Bombay Stock Exchange (BSE) in Mumbai. File
| Photo Credit: Reuters
Equity benchmark indices Sensex and Nifty tumbled in early trade on Monday (February 24, 2025) tracking extremely weak U.S. market trends, incessant foreign fund outflows and concerns over U.S. tariffs.
The 30-share BSE benchmark Sensex tanked 567.62 points to 74,743.44 in early trade. The NSE Nifty dropped 188.4 points to 22,607.50.
From the Sensex pack, HCL Tech, IndusInd Bank, Zomato, Tech Mahindra, Tata Consultancy Services, ICICI Bank, HDFC Bank and Power Grid were among the biggest laggards.
Maruti and Mahindra & Mahindra were the gainers from the pack.
Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,449.15 crore on Friday, according to exchange data.
Foreign investors have pulled out over ₹23,710 crore from the Indian equity markets so far this month, pushing total outflows past ₹1 lakh crore in 2025 amid rising global trade tensions.
“The market is facing headwinds from relentless FII selling and global uncertainties relating to Trump tariffs. The sharp surge in Chinese stocks is another near-term headwind. In the US, long-term inflation expectations are rising and, therefore, the expected rate cut by the Fed is unlikely to materialise,” V K Vijayakumar, Chief Investment Strategist, Geojit Financial Service, said.
In Asian markets, Seoul, Shanghai and Hong Kong were trading lower.
US markets ended significantly lower on Friday.
Global oil benchmark Brent crude dropped 2.13% to $74.43 a barrel.
“As we advance, continued foreign fund outflows and concerns over US President Donald Trump’s tariff stance in his second term in office may keep investors on edge in a holiday-shortened week,” Ameya Ranadive, Chartered Market Technician, CFTe, Sr Technical Analyst, StoxBox, said.
Falling for the fourth day on Friday, the BSE benchmark dropped 424.90 points or 0.56% to settle at 75,311.06. The Nifty declined 117.25 points or 0.51% to 22,795.90.
Published – February 24, 2025 10:18 am IST
