The Indian stock market opened with a grim start today, witnessing a significant plunge as the Sensex nosedived by over 700 points in early trade. This sharp decline reflected widespread bearish sentiment across sectors, prompting Nifty to open below the critical 23,000 mark. Top losers on the stock market are PowerGrid, HCL Tech, Wipro , Tech Mahindra and Hindalco
Quarterly Earnings Season Unfolds Amidst Market Jitters
Today marks a crucial day for investors as 78 companies, including major players like Coal India, Tata Steel, and Bajaj Housing Finance, are set to announce their quarterly earnings. This mixed bag of results added to the uncertainty, exacerbating the sell-offs seen across the market.
According to market analysts, the varied performance in earnings announcements has intensified investor concerns, contributing to the volatile trading session witnessed today.
Budget Anxiety Looms Over Market
Another significant factor dampening market sentiment is the upcoming Union Budget 2025 announcement. Finance Minister’s impending fiscal policies and key decisions are expected to sway market dynamics, already jittery from global economic uncertainties.
Global Ripples: Trump’s Diplomatic Escalation Impacts
Global factors also played a role in today’s market turbulence, with President Trump’s recent tariff announcements of 25% on Colombia further unsettling international trade dynamics. This diplomatic standoff has added to the broader geopolitical concerns weighing on investor sentiment worldwide.
Foreign Investors Pull Out Amid Economic Uncertainty
Foreign Portfolio Investors (FPIs) continued their retreat from Indian equities, withdrawing a substantial Rs 64,156 crore (approximately USD 7.44 billion) in January alone. The ongoing exodus is attributed to factors such as the weakening Indian rupee and cautious corporate earnings outlook.
