Markets slump in early trade amid fresh tariffs concerns, foreign fund outflows
The Hindu
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.
Alphabet's $32 billion acquisition of cybersecurity startup Wiz to enhance Google Cloud's security and multi-cloud capabilities.
Rupee gains against US dollar amid positive equity markets, weak American currency, and volatile forex trading.
At present, Karnataka provides 24% reservations in civil works contracts for Scheduled Castes (SC) and Scheduled Tribes (ST), 4%, for Other Backward Classes (OBC) Category 1, and 15% for OBC–Category-2A. There had been demands to include Muslims under Category 2B of the OBCs with a 4% quota.
India's luxury car market for Maybach vehicles is growing rapidly, with Mercedes aiming to be a top five market globally.
LIC in talks with RBI for 50-year and 100-year bonds to meet long-term obligations, CEO Siddhartha Mohanty confirms.
Paytm Money obtains SEBI registration as research analyst, enhancing investment offerings for retail and institutional investors.
Equity indices Sensex and Nifty surge on global market optimism, bank stock buying; domestic cues positive.
Google-parent Alphabet is in advanced talks to acquire cybersecurity startup Wiz for around $30 billion, a source said.
Industry watchers expect Huang to spotlight Nvidia’s latest Blackwell line of graphics processing units (GPUs).
Bajaj Finserv acquires Allianz SE's stake in insurance JVs for ₹24,180 crore, increasing ownership to 100%.
Vikas Kaushal appointed as CMD of HPCL, with a background in Chemical Engineering and global management consulting experience.
Stock indices Sensex and Nifty rebounded by half a per cent, driven by global rally and banking stock buying.
Rupee gains against US dollar on positive global markets, but surge in crude oil prices limits sharp upside.