Market Wrap, February 10: SENSEX, NIFTY50 fall for 4th session amid tariff fears; 192 stocks hit 52-week low

The equity benchmark indices on Monday, February 10, continued with its decline for the fourth consecutive session amid weak global cues following US President Donald Trump’s signal for fresh tariff.

At close, the S&P BSE SENSEX stood at 77,311.80, tumbling 548.39 points, or 0.7%, while the NSE's NIFTY50 index ended at 23,381.60, down 178.35 points, or 0.76%.

The US indices ended lower on Friday as investors grappled with fresh tariff threats from the Trump administration and rising inflation expectations.

Trump said he will announce on Monday 25% tariffs imposed on all steel and aluminum imports, including from Canada and Mexico, as well as other import duties later in the week. “Any steel coming into the United States is going to have a 25% tariff,” he said on Sunday.

Trump also reaffirmed that he would announce “reciprocal tariffs”—“probably Tuesday or Wednesday”—meaning that the US would impose import duties on products in cases where another country has levied duties on US goods.

“If they are charging us 130% and we’re charging them nothing, it’s not going to stay that way,” Trump said.

Globally, France's CAC 40 edged up 0.2% in early trading to 7,988.29, while Germany's DAX rose 0.3% to 21,817.79. Britain's FTSE 100 added 0.4% to 8,738.98. US shares were set to drift higher with Dow futures rising 0.2% to 44,507.00. SP 500 futures gained 0.3% to 6,067.50.

Among Asian markets, Japan's benchmark Nikkei 225 finished little changed, rising less than 0.1% to 38,801.17. The Hang Seng index jumped 1.8% to 21,521.98, and the Shanghai Composite added 0.6% to 3,322.17, despite Trump's tariffs on Chinese imports.

South Korea's Kospi lost less than 0.1% to 2,521.27. Australia's S&P/ASX 200 lost 0.3% to 8,482.80.

The Indian rupee weakened to its all-time low on Monday. The domestic currency weakened to 87.95 against the US dollar before closing at 87.4750.

As many as 4,225 stocks traded on the BSE on Monday. Out of this, 3,032 declined and only 1,070 stocks advanced while 123 scrips remained unchanged.

A total of 114 stocks hit their 52-week highs while 192 stocks touched their one-year lows. Besides, only 8 stocks hit their upper circuit limits and only 4 touched their lower circuit bands on Monday.

As many as 11 stocks on the NIFTY50 index traded positive, while the remaining 39 closed in red. The top five gainers on the index were Kotak Mahindra Bank, Bharti Airtel, Britannia, Tata Consumer and HCL Technologies, rising as much as 1.74%.

The top five losers were Trent, Power Grid, Tata Steel, Titan and ONGC, declining as much as 4.48% on the 50-share index.

The broader market closed in red with the BSE MidCap index ending at 43,048.32, declining 887.91 points, or 2.06%, while the BSE SmallCap index settled at 50,242.10 levels, tanking 1,129.34 points, or 2.25%.

All the sectors ended in negative with BSE Realty (-2.69%), Metals (-2.63%), Consumer Durables (-2.61), Utilities (-2.49%) and Healthcare (-2.25%) being the biggest sectoral losers.