Taking Stock | Sensex, Nifty slide 1.3% as US tariff concerns weigh on investor sentiment

markets

India's benchmark indices, Sensex and Nifty, closed 1.3 percent lower on February 11, mirroring weakness in global equities as fresh tariff developments fueled caution among investors. Market participants are also closely watching Federal Reserve Chair Jerome Powell’s testimony and key US inflation data for further cues.

At the close, the Sensex dropped 1.3 percent, shedding 1,018 points to settle at 76,293.60, while the Nifty declined 1.32 percent, losing 309.8 points to end at 23,071.80. Broader markets saw sharper declines, with the BSE MidCap index falling 2.9 percent and the BSE SmallCap index plunging 3.4 percent.

In global markets, Europe’s Stoxx 600 index remained steady, while US equity futures edged lower and Asian stocks retreated. Gold surged to a fresh record high, while the dollar index sustained gains from Monday following former President Donald Trump's directive imposing tariffs on US steel and aluminum imports.

These market movements reflect investor uncertainty over the broader impact of Trump's trade measures on global commerce, corporate earnings, and inflation. Meanwhile, the European Union has vowed to retaliate against any tariffs imposed by the US, raising concerns over an escalating transatlantic trade conflict.

Outlook for February 12

Prashanth Tapse, Senior VP (Research), Mehta Equities

Indian markets underperformed global indices as benchmark indices plunged over 1% each on wide-spread selling, mainly ignited by worries over escalating tariff war after Trump imposed 25% import tariffs on steel and aluminium, which would hurt India's business prospects. The mood is already sombre because of likely prospects of subdued government spending going ahead and dismal earnings show so far, which has created uncertainty amongst the investors and prompted them to offload their equity holdings.

Vinod Nair, Head of Research, Geojit Financial Services

Index	Prices	Change	Change%
Sensex	83,203.16	-332.19	-0.40%
Nifty 50	25,472.30	-102.05	-0.40%
Nifty Bank	57,741.55	-196.00	-0.34%

Nifty 50 25,472.30 -102.05 (-0.40%)

Tue, Nov 11, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
Interglobe Avi	5,667.50	79.00	+1.41%

Biggest Loser	Prices	Change	Change%
Bajaj Finance	998.60	-86.40	-7.96%

Best Sector	Prices	Change	Change%
Nifty IT	35801.80	113.50	+0.32%

Worst Sector	Prices	Change	Change%
Nifty PSU Bank	8243.80	-96.90	-1.16%

The ongoing uncertainty surrounding US trade policies and tariffs, coupled with domestic economic growth concerns and persistent selling by FIIs, is dampening market sentiment. The mid- and small-cap stocks experienced significant declines due to demand concerns and higher valuations. Although the RBI’s intervention provided some recovery for the rupee from yesterday's record low, it remains under pressure and is likely to keep the market volatile in the near term. Investors are anticipating the PM’s visit to the US for any potential relief in trade uncertainty, while the US inflation data later today will also be a key focus.

Aditya Gaggar Director of Progressive Shares

A strong comeback was made by the bears in the market after a slow start, as a sharp decline was seen across the board. At one point, the index breached even its psychological support level of 23,000 but did manage to recover slightly towards the end, settling at 23,071.80 with a loss of 309.80 points. It was a broadly negative session, with all sectors ending in the red, with Realty and Media being the primary underperformers.

The real pain was evident in the broader markets, as the Mid and Smallcap segments saw significant selling, plunging by 3.02% and 3.45% respectively. The technical structure remains weak for the markets, with selling pressure mounting on every rise. It appears that the index is heading toward testing its previous support at 22,800, and if it breaks that level, it could slide further to 22,600. On the upside, 23,240 is seen as an immediate resistance level.