Sensex, Nifty tank over 1% amid foreign fund exodus
The Hindu
Sensex and Nifty plummet over 1% as trade war fears and foreign fund outflows persist.
Benchmark stock indices Sensex and Nifty tanked more than 1% on Tuesday (February 11, 2025) amid unabated foreign fund outflows and fresh U.S. tariffs that reignited trade war fears.
Declining for the fifth day running, the 30-share BSE Sensex dropped 1,018.20 points or 1.32% to settle at a two-week low of 76,293.60. During the day, it tumbled 1,281.21 points or 1.65% to 76,030.59.
The NSE Nifty cracked 309.80 points or 1.32% to 23,071.80 with 44 of its constituents closing lower and six with gains.
Among 30 Sensex shares, Zomato tanked over 5%. Tata Steel, Bajaj Finserv, Tata Motors, Power Grid, Larsen & Toubro, Kotak Mahindra Bank, Hindustan Unilever and ITC were the biggest laggards.
Bharti Airtel was the only gainer among Sensex scrips.
In the past five days, the BSE bellwether gauge has slumped 2,290.21 points or 2.91%, while the Nifty tanked 667.45 points or 2.81%.
Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,463.72 crore on Monday (February 10, 2025), according to exchange data.
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The Union Budget unveiled on February 1, 2025, has come at a time of unprecedented global uncertainty and a flagging domestic economy. The real GDP growth is estimated at 6.4% for 2024-25 and between 6.3-6.8% for 2025-26, a far cry from >8 percent growth required annually to make India a developed nation by 2047. While much attention has been devoted to the demand stimulus through income tax cuts, not enough is said about the proposed reforms in urban development, tariff rationalisation, and regulatory simplification aimed at making Indian cities and corporates more competitive. Since the majority of economic activity is located in cities (urban areas account for ~55% of GDP) and produced by large corporates (~40% of the national output and 55% of India’s exports), the above-mentioned reforms have a pivotal role in improving India’s trend growth rate. Below we unpack each reform.
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