Closing Bell: Sensex Dips 319pts on US Tariff News; Nifty at 23,361; Smallcaps Struggle

On February 3, 2025, Indian equity markets faced a decline as investors grew cautious following US President Donald Trump’s decision to impose tariffs on Canada, Mexico, and China. Trump announced a 25% tariff on Canada and Mexico and a 10% tariff on China, citing concerns about illegal immigration and the drug trade.

Sensex and Nifty End Lower

The BSE Sensex dropped by 319.22 points, or 0.41%, closing at 77,186.74. The index traded between 77,260.37 and 79,756.09 during the day. The NSE Nifty50 also fell by 121.10 points, or 0.52%, finishing at 23,361.05. The Nifty50 hit a high of 23,381.60 and a low of 23,222 during the session.

Top Gainers and Losers

35 of the 50 Nifty stocks ended in the red, led by Larsen & Toubro, Tata Consumer, Hero MotoCorp, Coal India, and Bharat Electronics, which saw losses of up to 4.67%. On the other hand, 13 Nifty stocks, including Bajaj Finance, Shriram Finance, Mahindra & Mahindra, Wipro, and Bajaj Finserv, gained up to 5.12%.

Smallcap stocks were the biggest losers in the broader market, with the Nifty Smallcap100 index dropping by 2.13%. The Nifty Midcap 100 index also fell by 0.93%.

Sectoral Performance

Among sectors, Nifty Oil & Gas, FMCG, and PSU Bank indices saw significant losses, down by 2.22%, 1.67%, and 1.60%, respectively. On the positive side, sectors like Nifty IT, Auto, Pharma, Healthcare, and Consumer Durables posted gains of up to 0.68%.

Oil Prices

As of February 03, 2025, at 04:02 PM, Brent Crude was trading at $76.76, up by 1.44%.

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