ET Market Watch: Markets slip submit RBI coverage; IT & pharma drag, Trump’s tariff warning jolts sentiment
Markets Slip Put up-RBI Coverage
Indian markets ended within the crimson in the present day, as rate-sensitive sectors reacted negatively to the Reserve Financial institution of India’s financial coverage resolution. The central financial institution held rates of interest regular and maintained a impartial stance, according to expectations, however disillusioned traders hoping for a extra dovish sign amid international uncertainty.
The Sensex fell 166 factors to shut at 80,543, whereas the Nifty slipped 75 factors, settling under 24,600 at 24,574.
What Dragged Markets?
IT and Pharma shares had been among the many worst performers, down round 2%, hit by contemporary commerce pressure from the US
Price-sensitive sectors like actual property, auto, and client durables additionally closed decrease.
Broader markets underperformed, with small and mid-caps falling as much as 1.1%.
Trump’s Tariff Risk
US President Donald Trump escalated commerce tensions, warning of a “very substantial” hike in tariffs on Indian imports inside 24 hours as a consequence of India’s continued buy of Russian oil. That added to market jitters.
Prime Drags
Shares like Solar Pharma, Tech Mahindra, Bajaj Finance, and Infosys had been among the many main laggards on the Sensex.
Skilled View
Vinod Nair of Geojit Monetary Providers mentioned that whereas the RBI’s stance was anticipated, sectors like pharma took a direct hit from renewed tariff threats.
Technically, Nifty stays beneath promoting strain. LKP Securities’ Rupak De sees additional draw back if the index breaks under 24,400, an important help stage.
World Snapshot
World markets confirmed indicators of restoration, with European and Asian indices rebounding modestly. Traders are actually watching key US financial information and Fed price cues intently.
Commodities & Rupee
Brent crude rose to $68.54 on the again of a shock drawdown in US inventories.
The Indian rupee firmed barely to 87.73 per greenback, helped by the RBI’s resolution, however might stay risky as a consequence of exterior tariff dangers.
That’s all for now on ET Market Watch. Keep tuned for extra updates. I’m Neha V Mahajan, signing off.
