Sensex and Nifty slumped nearly 2 per cent on Friday, mirroring a global sell-off triggered by fresh tariff announcements on Chinese goods. The 30-share BSE Sensex tumbled 1,414.33 points (1.90 per cent) to close at 73,198.10, after hitting an intraday low of 73,141.27. The NSE Nifty extended its losing streak for the eighth consecutive session, dropping 420.35 points (1.86 per cent) to settle at 22,124.70, reported PTI.

From its peak of 85,978.25 on September 27 last year, the Sensex has fallen by 12,780.15 points (14.86 per cent), while the Nifty has lost 4,152.65 points (15.80 per cent) from its record high of 26,277.35. The market rout was driven by concerns over additional tariffs, including a 10 per cent levy on Chinese goods and a 25 per cent tariff on US imports from Canada and Mexico, set to take effect next week. Analysts also pointed to the potential imposition of tariffs on the European Union, adding to investor jitters.

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Tech Mahindra led the slide among Sensex stocks, dropping over 6 per cent, followed by IndusInd Bank, which declined more than 5 per cent. Mahindra & Mahindra, Bharti Airtel, Infosys, Tata Motors, Titan, TCS, Nestle, and Maruti also registered significant losses, while HDFC Bank was the only gainer.

Asian markets, including Seoul, Tokyo, Shanghai, and Hong Kong, closed with steep losses, while European markets traded mostly lower. Wall Street had also ended sharply lower on Thursday. According to Vinod Nair, Head of Research at Geojit Financial Services, investors are closely watching India’s Q3 GDP data, which could provide crucial insights into economic recovery and market direction.

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Foreign Institutional Investors (FIIs) offloaded equities worth ₹556.56 crore on Thursday, as per exchange data. Meanwhile, global oil benchmark Brent crude dipped 0.69 per cent to $73.53 per barrel. On Thursday, the Sensex had managed a marginal 10.31-point gain, while the Nifty slipped 2.50 points, marking its seventh straight day of decline.

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