Mumbai: Benchmark equity indices Sensex and Nifty Monday ended marginally lower, following sluggish trends in global markets amid renewed global trade concerns.
Besides, the Russian-Ukraine conflict, sharp jump in Brent crude oil prices and foreign fund outflows dented investors’ sentiment, experts noted.
After tumbling 796.75 points or 0.97 per cent to 80,654.26 in intra-day trade, the 30-share BSE Sensex witnessed volatile trends and later ended 77.26 points or 0.09 per cent lower at 81,373.75.
The NSE Nifty dipped 34.10 points or 0.14 per cent to settle at 24,716.60. During the day, it dropped 224.55 points or 0.90 per cent to 24,526.15.
From the Sensex firms, Tech Mahindra, Tata Steel, Tata Motors, Titan, HDFC Bank, IndusInd Bank, Infosys and Kotak Mahindra Bank were among the biggest laggards.
On the other hand, Adani Ports, Mahindra & Mahindra, Power Grid, Eternal and Hindustan Unilever were among the gainers.
In Asian markets, Japan’s Nikkei and Hong Kong’s Hang Seng settled lower, while South Korea’s Kospi ended in positive territory. Markets in China were closed for a holiday.
European markets were trading lower in mid-session deals. US markets ended on a mixed note Friday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 6,449.74 crore Friday, according to exchange data.
US President Donald Trump on Friday said he would double tariffs on steel and aluminium to 50 per cent.
“The domestic market continued its consolidation phase for the third consecutive week, influenced by renewed concerns over a potential tariff war and escalating geopolitical tensions between Russia and Ukraine.
“While global uncertainties have led investors to adopt a risk-averse approach, the Indian market has demonstrated resilience, underpinned by robust institutional inflows and selective sectoral strength like FMCG, real estate, and financial stocks,” Vinod Nair, Head of Research, Geojit Investments Limited, said.
Meanwhile, India’s manufacturing sector growth fell to a three-month low in May, restricted by inflationary pressures, softer demand and heightened geopolitical conditions, a monthly survey said Monday.
The seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) fell from 58.2 in April to 57.6 in May, highlighting the weakest improvement in operating conditions since February.
Supportive domestic macro indicators include a potential RBI rate cut, a better monsoon, Q4 GDP data and better GST collection, Nair added.
Indian economy expanded at a faster pace than expected in the last quarter of the 2024-25 fiscal, helping clock a 6.5 per cent growth rate in the year that elevated its size to USD 3.9 trillion and held promise of crossing the world’s fourth-largest economy Japan in FY26.
The Indian economy grew at 7.4 per cent in January-March – the fourth and final quarter of April 2024 to March 2025 fiscal (FY25) – reflecting a strong cyclical rebound that was helped by a rise in private consumption and robust growth in construction and manufacturing.
Gross GST collections remained above the Rs 2 trillion mark for the second straight month, rising 16.4 per cent in May to over Rs 2.01 lakh crore.
Global oil benchmark Brent crude jumped 3.28 per cent to USD 64.84 a barrel.
On Friday, the BSE Sensex declined by 182.01 points or 0.22 per cent to settle at 81,451.01. The Nifty dipped 82.90 points or 0.33 per cent to 24,750.70.
PTI