ET Market Watch: D-Street flat despite GDP boost; tariff worries drag IT & metal stocks
Transcript
Hi, you're listening to ET Markets Radio, I am your host Neha V Mahajan. Welcome to a fresh episode of ET Market Watch -- where we bring you the latest news from the world of stock markets every single day. Let's get to it:
Markets end flat despite solid GDP data! What happened?
India's benchmark indices saw a quiet close on Monday.
Sensex slipped 77 points
Nifty closed below 24,800 — dragged down by IT and metal stocks.
Why the dip?
Global trade jitters are back.
Ex-U.S. President Donald Trump has threatened to double tariffs on steel and aluminium starting June 4.
That hit metal stocks — the Nifty Metal index fell 0.7%.
IT stocks, heavily exposed to the U.S., also lost 0.7%.
Big losers: Tech Mahindra, Tata Steel, HDFC Bank
Gainers: Adani Ports, Power Grid, Eicher Motors
GDP data was a silver lining — showing strength in construction and manufacturing.
But the market didn't cheer. Why? Global cues overshadowed local optimism.
Global Markets:
Hong Kong's Hang Seng dropped over 2% intraday before paring losses.
Europe's STOXX 600 slipped 0.5%
Gold surged nearly 2% as risk sentiment weakened.
Oil Alert: Brent jumped almost 3% after OPEC+ maintained output pace.
Rupee Watch: The rupee appreciated to 85.38 vs the dollar as the greenback weakened.
Takeaway?
Global trade tensions trumped GDP cheer — keeping D-Street in check.
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