Sensex and Nifty Extend Decline Over Trade Tensions and Weak Rupee
Indian markets fell for the fourth consecutive session as U.S. tariff announcements, a depreciating rupee, and weak corporate earnings weighed on investor sentiment.
- Sensex closed 550 points lower at 77,311.80, while Nifty fell 178 points to 23,381.60, marking a 0.7% and 0.76% dip respectively.
- U.S. President Donald Trump's announcement of 25% tariffs on steel and aluminum imports heightened global trade concerns, impacting market confidence.
- The Indian rupee hit a record low of 87.94 against the U.S. dollar, driven by a stronger dollar and global trade uncertainties.
- Corporate earnings for Q3 FY24 failed to boost sentiment, with major companies reporting declines in net profits.
- Metal and healthcare stocks were the biggest losers, with the Nifty Metal Index dropping 2.94% and dragging broader indices into the red.
Hindustan Times 
Free Press Journal 
