Sensex, Nifty slip as investors turn cautious ahead of earnings and tariff concerns

Indian benchmark indices fell on Wednesday amid mixed global cues, tariff worries, and caution ahead of Q1 earnings. Sensex dropped 170 points while Nifty dipped 44. Brent crude eased, and FIIs turned net sellers while DIIs were net buyers.

Mumbai: Equity benchmark indices Sensex and Nifty declined in early trade on Wednesday amid mixed global market trends as investors turned cautious due to tariff jitters and start of Q1 earnings season.

The 30-share BSE Sensex fell 170.42 points to 83,542.09 in early trade. The 50-share NSE Nifty dipped 44.35 points to 25,478.15.

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From the Sensex firms, Larsen & Toubro, Tata Steel, ICICI Bank, HCL Tech, Infosys and Kotak Mahindra Bank were among the laggards.

Hindustan Unilever, Asian Paints, Maruti and Titan were among the gainers.

“A significant takeaway from the recent global market trends is that the markets are largely ignoring the noise from the tariff front and are waiting for clarity to emerge. Perhaps, more important from the market perspective in the near-term will be the Q1 results,” VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.

The US has extended the suspension of its April 2 reciprocal tariffs until August 1.

In Asian markets, South Korea’s Kospi and Shanghai’s SSE Composite index traded higher while Japan’s Nikkei 225 index and Hong Kong’s Hang Seng quoted lower.

The US markets ended on a flat note on Tuesday.

“With Federal Open Market Committee minutes (July 9 ) and TCS earnings (July 10) ahead, expect heightened volatility,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.

Global oil benchmark Brent crude dipped 0.20 per cent to USD 70.01 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 26.12 crore on Tuesday, according to exchange data. Domestic Institutional Investors (DIIs) however, bought stocks worth Rs 1,366.82 crore.

On Tuesday, the 30-share barometer rose by 270.01 points or 0.32 per cent to settle at 83,712.51. The Nifty climbed 61.20 points or 0.24 per cent to close at 25,522.50.