Final Trade: Nifty extends losing streak to 10 days, ends below 22,100; Sensex slips 95 pts

Indian benchmark indices ended lower for the tenth consecutive session on March 4, pressured by weak global sentiment following renewed trade war tensions. The Nifty 50 slipped 0.17 per cent to settle at 22,082, while the Sensex dropped 95 points to close at 72,962, breaking below the psychological 73,000 mark.

IT and auto stocks drag, PSU banks and small-caps shine

A sharp sell-off in IT and auto stocks weighed on markets, with Bajaj Auto, Hero MotoCorp, Bajaj Finserv, Nestle, and HCL Tech among the major losers. On the other hand, PSU banks and media stocks gained traction, with SBI, Bharat Electronics, BPCL, and Coal India leading the Nifty gainers’ list. The BSE Midcap index closed 0.4 per cent lower, while the Smallcap index jumped 0.6 per cent, signaling a revival in smaller stocks after previous sell-offs.

Global trade war fears weigh on sentiment

Investor concerns deepened after former U.S. President Donald Trump announced additional tariffs on imports from Canada, Mexico, and China, further straining global trade relations. China and Canada retaliated with countermeasures, intensifying fears of a prolonged trade dispute. Asian and global markets saw a sharp sell-off, though Indian equities managed to contain losses.

Sectoral performance: Mixed trends across markets

Among sectors, IT, auto, realty, and telecom declined 0.5-1 per cent, while banking, capital goods, oil & gas, and PSU banks gained 0.5-1.5 per cent. The Nifty Midcap 100 eked out a marginal 0.05 per cent gain at 48,000, while the Nifty Smallcap 100 surged 0.69 per cent to 14,762.

Outlook: Will markets find support?

Despite ongoing global pressures, analysts believe domestic factors such as economic growth and corporate earnings could cushion further downside. Investors will closely monitor trade developments and upcoming economic data for market cues.