MUMBAI: Benchmark indices Sensex and Nifty ended a two-day rally and closed lower on Tuesday amid weaker global market trends amid fears of tariff threats from US President-elect Donald Trump.
In volatile trade, the 30-share Sensex closed down 105.79 points, or 0.13 percent, at 80,004.06. During the day, it lost 311.18 points or 0.38 percent to 79,798.67.
The broader NSE Nifty fell 27.40 points, or 0.11 percent, to 24,194.50.
Of the 30-share Sensex pack, UltraTech Cement, Adani Ports, Sun Pharma, NTPC, Tata Motors, Mahindra & Mahindra, Larsen & Toubro and PowerGrid were the top laggards.
Asian Paints, Infosys, JSW Steel, Tata Consultancy Services and Reliance Industries were among the top gainers.
Global stock markets fell after concerns over US President-elect Donald Trump’s comments that he plans to impose new tariffs on Mexico, Canada and China as soon as he takes office on January 20.
In Asian markets, prices in Seoul, Tokyo and Shanghai remained lower while prices in Hong Kong remained higher. The bearish trend continued in the European markets. US markets ended in positive territory on Monday.
All Adani Group stocks closed lower, with Adani Green Energy falling 7.05 percent.
Global oil benchmark Brent crude rose 0.71 percent to $73.58 a barrel.
Benchmark equity indices rose on Monday, helped by the BJP’s impressive performance in Maharashtra, winning a record number of seats to defeat the party-led ruling Mahawati alliance by a landslide.
The BSE benchmark jumped 992.74 points, or 1.25 percent, to settle at 80,109.85 on Monday. The Nifty gained 314.65 points or 1.32 percent to 24,221.90.
Foreign institutional investors (FIIs) turned buyers on Monday after relentless selling over the past several days. According to exchange data, they bought equity worth Rs 9,947.55 crore.