Markets slump in early trade amid fresh tariffs concerns, foreign fund outflows

Sensex and Nifty drop amid fresh tariffs concerns and foreign fund outflows on February 10, 2025.

Benchmark indices Sensex and Nifty declined in early trade on Monday (February 10, 2025) amid fresh tariffs concerns and unabated foreign fund outflows.

Declining for the fourth day running, the 30-share BSE benchmark Sensex dropped 343.83 points to 77,516.36 in early trade. The NSE Nifty declined 105.55 points to 23,454.40.

From the 30-share blue-chip pack, Tata Steel, Power Grid, NTPC, Zomato, Sun Pharma and Bajaj Finance were among the major laggards.

Bharti Airtel, Hindustan Unilever, State Bank of India and Nestle were among the gainers.

In Asian markets, Seoul and Tokyo were trading lower while Shanghai and Hong Kong quoted in the positive territory.

US markets ended lower on Friday.

Ameya Ranadive, Chartered Market Technician, CFTe, Sr Technical Analyst, StoxBox, said, "Wall Street ended sharply lower on Friday, with benchmark Treasury yields climbing in response to a mixed US payrolls report, disappointing consumer sentiment data, and renewed trade war concerns. US futures declined after President Trump announced he would reveal new steel and aluminum tariffs on Monday, along with reciprocal tariffs aimed at other countries." Foreign Institutional Investors (FIIs) offloaded equities worth Rs 470.39 crore on Friday, according to exchange data.