Sensex drops below 75,000-mark; Nifty tanks 188 points on weak U.S. markets, relentless FII selling
The Hindu
Equity indices Sensex and Nifty plummet due to weak US market trends, foreign fund outflows, and tariff concerns.
Equity benchmark indices Sensex and Nifty tumbled in early trade on Monday (February 24, 2025) tracking extremely weak U.S. market trends, incessant foreign fund outflows and concerns over U.S. tariffs.
The 30-share BSE benchmark Sensex tanked 567.62 points to 74,743.44 in early trade. The NSE Nifty dropped 188.4 points to 22,607.50.
From the Sensex pack, HCL Tech, IndusInd Bank, Zomato, Tech Mahindra, Tata Consultancy Services, ICICI Bank, HDFC Bank and Power Grid were among the biggest laggards.
Maruti and Mahindra & Mahindra were the gainers from the pack.
Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,449.15 crore on Friday, according to exchange data.
Foreign investors have pulled out over ₹23,710 crore from the Indian equity markets so far this month, pushing total outflows past ₹1 lakh crore in 2025 amid rising global trade tensions.
"The market is facing headwinds from relentless FII selling and global uncertainties relating to Trump tariffs. The sharp surge in Chinese stocks is another near-term headwind. In the US, long-term inflation expectations are rising and, therefore, the expected rate cut by the Fed is unlikely to materialise," V K Vijayakumar, Chief Investment Strategist, Geojit Financial Service, said.
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According to the United Nations’ Conference on Trade and Development (UNCTAD), the underlying logic of credit rating agencies is to avert the information asymmetry between borrowers and lenders about the latter’s creditworthiness. It further explains that issuers with lower credit ratings pay higher interest rates – reflective of the greater associated risk with lending to them, than the higher rated issuers.
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Equity indices Sensex and Nifty close lower due to auto stocks, foreign fund outflows, and global market concerns.
Rupee falls against dollar on Friday due to foreign fund outflows, U.S. dollar index recovery, and weak domestic markets.