Nifty falls for 10th straight session as tariff wars intensify
What's the story
The Sensex and Nifty ended lower on March 4, after sweeping US tariffs on major trading partners like China, Canada, and Mexico.
The development has rattled global markets and affected investor sentiment adversely.
The Sensex declined for the third straight session while the Nifty 50 stretched its losing streak to 10 sessions, its longest since inception nearly three decades ago.
Market response
US tariffs impact on Indian markets
The Sensex closed down 96 points or 0.1% at 72,989 while the Nifty was down 36 points or 0.2% at 22,082.
The US has imposed a 25% tariff on imports from Canada and Mexico, while Chinese goods now face a cumulative duty of up to 20%.
These tariffs could potentially increase inflation in the US and force the Federal Reserve to maintain high interest rates for an extended period.
Market trends
Sectoral performance amid tariff concerns
Ajit Mishra, SVP of Research at Religare Broking, said "the 21,800-22,000 zone holds multiple support levels for the index."
He noted that persistent global uncertainties and continuous foreign fund outflows have been driving the market lower.
In sectoral action, five of the 13 Nifty sectoral indices remained in negative territory with IT auto and FMCG stocks dragging the market lower.