The Indian stock market faced losses on Tuesday, following negative global cues and the US government’s tariff disputes with European nations. Foreign Institutional Investors (FIIs) selling off shares also impacted market sentiment. By 9:30 am, the Sensex dropped by 275 points, or 0.33%, reaching 82,971, while the Nifty fell by 91 points, or 0.36%, to 25,494.
Both broadcap indices mirrored the benchmark indices’ performance, with the Nifty Midcap 100 and Nifty Smallcap 100 declining by 0.33% and 0.54%, respectively. Most sectors were in the red, except for Nifty FMCG, metal, and PSU bank, which showed gains. Notably, PSU bank emerged as the top gainer, rising by 1.05%, while realty and IT sectors were among the major losers, dropping by 1.18% and 0.65%, respectively.
Market analysts highlighted that the immediate support levels are around 25,400–25,450, with resistance near 25,700–25,750. They anticipate volatility in the stock markets in the short term until there is clarity on the US-Europe tariff standoff. The IMF’s upward revision of India’s FY26 GDP growth to 7.3% indicates a strong economy despite various challenges, which could impact the market.
In Asian markets, there were losses as investors reacted to the US tariff threats on Europe related to Greenland, intensifying trade tensions. China’s central bank opted to maintain its loan prime rates unchanged, focusing on targeted support for specific sectors to address economic slowdown rather than broad policy adjustments. Across Asian markets, indices like China’s Shanghai and Shenzhen, Japan’s Nikkei, and Hong Kong’s Hang Seng Index experienced declines, while South Korea’s Kospi saw a slight increase.
