Mumbai: The stock market plunged on Monday due to the impact of weak global signals and disappointing Q3 results of domestic corporates. Benchmark indices,
BSE Sensex and NSE Nifty recorded losses. At 1 pm, the 30-share Sensex declined 455.08 points to 83,115.27. On the other hand, Nifty traded with loss of 148 points at 25,545.90. Due to the downfall in market, investors lost about Rs 2 lakh crore. Big stocks like Wipro, Tata Motors PV, ICICI Bank and Max Healthcare were among the top losers of Nifty.
Volatility in global markets has increased after the new tariff threats from US President Donald Trump. Trump has threated to impose tariffs on eight European countries if they oppose his Greenland plan. The US president has threatened to impose 10 percent additional import duty on goods coming from Denmark, Norway, Sweden, France, Germany, Netherlands, Finland and Britain from 1 February 2026. If no agreement is reached by June 1, this tariff will be increased to 25 percent. In European markets, EUROSTOXX 50 Futures and DAX Futures lost about 1.1 percent. Japan’s Nikkei also fell about 1 percent.
Uncertainty about Fed Chair
Market sentiment deteriorated when Trump said that Kevin Hassett could not become the next Federal Reserve Chairman and the latter would continue as director of the White House National Economic Council. Hassett is considered to be in favour of softening interest rates. Increasing uncertainty surrounding his appointment put a brake on expectations of an aggressive rate cut in 2026, which affected global market sentiment.
Weak Q3 results by Indian corporates
Several domestic companies have posted weak results for the December quarter of 2025-26 which has added to the pressure on the stock market. The IT index fell by about 1 percent, with Wipro being the biggest loser. Wipro’s stock lost about 9 percent. The company has given an estimate of weaker revenue growth than expected for the March quarter. At the same time, heavy weight share Reliance Industries also fell by 3 percent, which had a bad effect on the Nifty.
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