On Monday, the equity benchmarks Sensex and Nifty ended their two-day gaining streak, trading lower amid weak global cues and renewed trade tensions between the US and China. Investor sentiment was dampened after the US announced a 100% tariff hike on Chinese goods, effective November 1, sparking a global market sell-off.
By 12:15 p.m., the Sensex had dropped 325.37 points, or 0.39%, to 82,175.45, while the Nifty fell 105.30 points, or 0.42%, to 25,180.05. Major laggards included Infosys, Tata Motors, and Wipro, which saw declines of up to 2%. In contrast, Adani Ports and Bajaj Auto gained around 2%.
Sector-wise, IT, FMCG, metals, pharmaceuticals, real estate, consumer durables, and oil & gas stocks witnessed selling pressure, posting losses of up to 1.2%. However, the Bank Nifty index remained in the green, marking its third consecutive day of gains. Financial services and private banking stocks also saw continued buying interest, providing some support to the broader market amidst the overall weakness.
