By Admin 
Stock Market News: Domestic stock markets closed with a decline on Monday due to heavy selling in Reliance Industries and ICICI Bank amid increasing uncertainties related to global tariffs, weakness in the rupee against the US dollar and continuous withdrawal of foreign capital. BSE Sensex fell 324.17 points or 0.39 percent to close at 83,246.18 points, whereas it had slipped by 672 points during trading.
Huge decline in Reliance-ICICI
Whereas NSE Nifty fell by 108.85 points or 0.42 percent to 25,585.50 points. Among Sensex companies, Reliance Industries shares fell the most by 3.04 percent, where decline in gas production and weakness in retail business offset the better performance of other sectors. Shares of ICICI Bank also fell by 2.26 percent as the bank’s December quarter consolidated profit declined.
Apart from this, Titan, Adani Ports, TCS and UltraTech Cement also remained in the red, while Indigo, Tech Mahindra, Hindustan Unilever and Bajaj Finance registered gains. There was a mixed trend in Asian markets and European markets were trading with weakness.
Investors alerted
According to Vinod Nair, head of research at Geojit Investments, US President Donald Trump’s threat to impose new tariffs on European countries has weakened global risk sentiment, due to which investors are turning to safe assets. Meanwhile, the rupee fell 14 paise to close at 90.92 per dollar and Brent crude fell 1.22 percent to $63.35 per barrel.
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