Foreign outflows, weak macro signals to keep investors on edge
Indian stock markets closed lower on Thursday. This happened after a day of fluctuating gains and losses. Investors were concerned about US President Donald Trump's new tariffs on Indian exports. The Nifty and Sensex both experienced declines. Market volatility increased, indicating caution among traders. Experts suggest that rallies may face resistance due to various economic factors.
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Mumbai: Indian benchmark indices ended lower on Thursday after swinging between gains and losses as investors weighed the impact of US President Donald Trump's unexpected announcement imposing 25% tariffs on Indian exports to the US from August 1.NSE's Nifty fell 86.7 points, or 0.35%, to close at 24,768.35. BSE's Sensex declined 296.28 points, or 0.36%, to end at 81,185.58. Both indices had declined nearly 1% in early hours of trading. The Nifty 50 was up 0.4% intraday, before ending the day lower."Despite the movement, there is no sign of panic among traders, as further escalation appears unlikely," said Amit Khurana, head of equities at Dolat Capital Market.Nifty's Volatility Index or VIX - popularly known as the fear gauge of the market - gained 3% to end at 11.54 levels, indicating heightened caution among traders.Any rebound is likely to face hurdles in the absence of limited positive triggers, said Sriram Velayudhan, senior vice president, IIFL Capital Services "Rallies in the short term may face resistance around the 25,100-25,200 levels," he said. " Investor sentiment will remain cautious owing to headwinds like weak earnings, depreciating rupee, uncertainty around trade agreement and foreign outflows."The broad market indices also fell, with Nifty Midcap 150 dropping 0.8% and Nifty Small-cap 250 declining 0.9%. Out of the total 4,153 stocks traded on the Bombay Stock Exchange, 1,525 advanced and 2,502 declined on Thursday.
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