GIFT Nifty Suggests Cautious as Sensex, Nifty Brace for Sixth Day of Losses

Mumbai, September 26: The Indian stock market and all the included indices are set to open on a cautious note at the end of the week today, on September 26. This is indicated by Gift Nifty, which is marginally up by 0,02%, or 5,50 points, and is trading at 24,933.00, as of 8:30 AM. This indicates that Sensex and Nifty may open lower or marginally up and may extend their losing streak today.

Wall Street Slips

Wall Street also extended its losses overnight, as investors became cautious following strong U.S. GDP revisions and falling jobless claims, which hint at no rate cuts by the Federal Reserve. Dow Jones fell by 0.4%, while both the S&P 500 and Nasdaq slipped about 0.5%. Asian markets also mirrored the performance of Wall Street, and most markets fell due to concerns about valuations.

Sensex Tumbled By 555.95 Points While Nifty Fell By 166.05 Points

Yesterday, on September 25, both Sensex and Nifty ended the day in the red. Sensex tumbled 555.95 points and the Nifty closed 166.05 points lower at 24,890.85, slipping below the psychological mark of 25,000.

FIIs are Net Sellers, While DIIs are Net Buyers

Yesterday, FIIs became net sellers and sold Indian equities worth ₹4,995 crore. However, DIIs provided support by being net buyers of ₹5,103 crore Indian equities.

Trump’s Tariff Shock

Most markets are witnessing negative sentiments due to the 100% tariffs on imported branded and patented pharmaceuticals announced by US President Donald Trump. The tariffs will be effective from October 1, unless companies are actively building plants in America. This tariff is an extension of the 50% tariff applicable on kitchen cabinets, 30% on upholstered furniture, and 25% on heavy trucks.

Cautious Outlook For Today

As indicated by Gift Nifty, the Indian markets are expected for a cautious start today. The spotlight today will fall on the pharma sector, which may see a selloff. Investors will be watching intraday factors which can affect the overall performance.

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