Indian stock markets tumble for fifth day on US tariff uncertainty
Indian stock markets have fallen for a fifth straight day as fresh US tariff threats derailed hopes of a trade deal. The NSE Nifty dropped 0.8% on Tuesday, while the BSE Sensex lost 0.7% after both indices had hit record highs just days earlier. Investors are now bracing for further volatility ahead of a key Supreme Court ruling on tariffs and upcoming US jobs data.
The sell-off deepened after the US Supreme Court delayed its decision on former President Trump’s proposed tariffs on Friday. Markets had anticipated a ruling, but the postponement left traders uncertain. Concerns over potential tariffs on Indian and Chinese imports triggered persistent overseas selling, wiping out gains from Monday’s all-time peaks.
The NSE Nifty closed at 25,683.30, down 193.55 points, while the BSE Sensex ended at 83,576.24, shedding 604.72 points. Meanwhile, Brent crude futures climbed 0.9% to $62.4 a barrel, and the Volatility Index (VIX) rose 3.1% to 10.9, signalling growing unease. Technical analysts warn that while the market is oversold, any rebound may be short-lived. The 200-day Directional Movement Average (DEMA) at 25,200 is seen as a key support level for the Nifty. Seasonal trends also suggest weakness could persist until March, adding to investor caution. Traders are now watching for a knee-jerk reaction once the Supreme Court issues its tariff ruling. Many have already reduced exposure, fearing further losses if tariffs are imposed or economic data disappoints.
The delay in the Supreme Court’s tariff decision has prolonged uncertainty for Indian markets. With the Nifty facing technical resistance and seasonal headwinds, analysts expect subdued trading until clarity emerges. Investors remain on edge, awaiting both the court’s verdict and fresh US economic figures.
