Markets snap 2-day gains: Sensex, Nifty down 0.4% amid weak global cues; IT, FMCG among key laggards

Sensex, Nifty see profit booking in trade.

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26 Aug, 2025 12:21

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The equity benchmarks Sensex and Nifty traded lower on Monday, snapping a two-day winning streak, as weak global trends and fresh trade tensions between the US and China weighed on investor sentiment.

The fall came after the US announced an additional 100 percent tariff on China, effective November 1, triggering a sharp sell-off across global markets.

At around 12:15 p.m., the Sensex declined 325.37 points or 0.39 percent to 82,175.45, while the broader Nifty slipped to 25,180.05, down 105.30 points or 0.42 percent.

Infosys, Tata Motors and Wipro declined up to 2 percent, while Adani Ports and Special Economic Zone and Bajaj Auto rose 2 percent.

Among sectoral indices, IT, FMCG, metal, pharma, realty, consumer durables, and oil & gas shares came under pressure, losing up to 1.2 percent.

The Bank Nifty, however, traded marginally higher, extending its gains to a third straight session. Buying interest was also seen in financial services and private bank counters.

Investors also remained focused on upcoming second-quarter earnings from HCL Tech, following TCS’s in-line results that slightly beat market expectations on several parameters. Market participants are also watching for commentary on HCL Tech’s artificial intelligence roadmap, after TCS recently announced plans to build a large-scale AI data centre and made a rare acquisition in the space.

Volatility in the market spiked, with the India VIX rising over 10 percent to 11.13, indicating heightened investor nervousness ahead of key corporate results and global tariff news.

The broader markets also mirrored the weakness, with the Nifty Midcap 100 and Nifty Smallcap 100 indices slipping up to 0.5 percent.

On the technical front, Anand James, Chief Market Strategist at Geojit Financial Services, said, "We will begin the week limiting our upside objective to 25,460, as maintained last week. Volatility is expected to rise as the week progresses. While nearest support is seen at 25,230-25,215, we will wait for a direct fall past 25,113 to step away from upside plays."

Meanwhile, the Wall Street futures rose sharply around afternoon on Monday (India time), signalling a firm opening for U.S. markets later in the day, after President Donald Trump struck a conciliatory tone on trade relations with China.