Indian stock markets experienced a mixed session on Monday as concerns over potential U.S. tariffs offset optimism about domestic economic growth. The benchmark S&P BSE Sensex closed slightly higher by 0.03% at 58,184.21, while the broader NSE Nifty 50 remained unchanged at 17,555.05.
Information technology and financial company losses countered gains in energy and auto stocks.
#GlobalExclusive | "Expect bank stocks to outperform when market is declining… don't think property cycle is over," says Chris Wood of Jefferies
Here are his insights on where the value is amid the correction in the markets
Watch the full interview – https://t.co/ZdACeIdciF… pic.twitter.com/X0ag4kkwHt
— ET NOW (@ETNOWlive) March 3, 2025
Reliance Industries Ltd shares rose 1.2% following reports of strong refining margins, while Adani Wilmar Ltd gained 0.8% after announcing a strategic partnership with a global agribusiness firm. Bajaj Auto Limited climbed 1.5% as the company reported a 10% increase in monthly sales. On the other hand, shares of Tata Consultancy Services fell 1.1% amid worries about potential U.S. regulations impacting the IT sector, and HDFC Bank lost 0.9% as profit-booking set in after recent gains.
Rs 5k SIP in THESE 3 mutual fund schemes would have grown to over Rs 1.10 crore despite stock market volatilityhttps://t.co/gFKAL7FtRn
— ET NOW (@ETNOWlive) March 3, 2025
Markets teeter amid growth and tariffs
Data released last week showed that India’s GDP grew by 8.7% in the third quarter, higher than expected, which analysts attributed to increased consumer spending and government investments. However, reports suggesting that the U.S. might impose additional tariffs on Chinese imports dampened sentiment, as investors worried about the broader implications for global trade, supply chains, and pricing.
Recent swing in large speculators' net short positioning has been much more aggressive for 10y Treasury futures (orange) than S&P 500 futures (blue) pic.twitter.com/a2biPKSvq3
— Liz Ann Sonders (@LizAnnSonders) March 3, 2025
“While domestic growth numbers are heartening, global macroeconomic events are causing volatility,” said Devika Malik, a market analyst at Axis Securities. “The situation remains fluid, and upcoming policy decisions by the U.S. will be critical in determining market direction.”
According to analysts, this week, the market will take cues from the US tariff-related developments, global trends and trading activity of foreign investors this week.#TrumpTariffs #BusinessNews #trading https://t.co/PVNNBI4Q1r
— News18 (@CNNnews18) March 3, 2025
The Indian rupee strengthened, ending 15 paise higher at 87.36 per dollar on Monday versus Friday’s close of 87.51. The rise in foreign exchange reserves and the weakening of the US dollar against major currencies further supported the rupee’s performance.
In a notable update, Tips Music and Sony Music Publishing announced an expansion of their successful global publishing partnership, adding YouTube (worldwide, excluding India) as a key platform for the international publishing exploitation of Tips Music’s vast catalog.
Image Credits: Photo by Tech Daily on Unsplash
