Indian markets slump as Infosys, global cues drag Sensex, Nifty lower

Equity benchmark indices Sensex and Nifty opened sharply lower on Tuesday tracking weak trends from US markets and heavy selling pressure on bluechip stock InfosysThe 30share BSE Sensex fell by 34623 points or 04737 to 7376894 in early trade Meanwhile the NSE Nifty declined by 12480 points or 05637 to 2233550 reflecting broadbased weakness in the marketAccording to PTI Infosys one of the key contributors to the decline saw significant selling pressure alongside other major laggards including IndusInd Bank Mahindra amp Mahindra Zomato Bajaj Finserv UltraTech Cement Tech Mahindra Adani Ports Tata Steel Kotak Mahindra Bank and HDFC BankOn the other hand Sun Pharmaceuticals ICICI Bank Nestle India Bharti Airtel NTPC and Titan were among the few stocks that managed to stay in positive territory despite the broader market weaknessThe market sentiment has been shaken by developments in the US where stock indices registered sharp losses overnight The SampP 500 dropped 2637 while the techheavy Nasdaq plunged by 437 on Monday reflecting investor anxiety over President Donald Trumps inconsistent tariff policies and rising fears of an economic downturn in the US by the end of the yearPresident Trumps flipflop tariff policy and the high uncertainty that it has triggered have started impacting US stock markets Mondays sharp decline in the SampP 500 and Nasdaq reflects the markets response to Trumps tariffs and the growing possibility of a US recession by the yearend said V K Vijayakumar Chief Investment Strategist at Geojit Financial Services according to PTI reportsDevarsh Vakil Head of Prime Research at HDFC Securities echoed these concerns stating that ongoing trade conflicts and fears of a potential federal government shutdown have added to the markets anxiety Vakil highlighted that weakening consumer sentiment slower consumer spending and tariff risks continue to weigh on the broader economic outlookGlobal market trends were also negative with major Asian indices trading lower According to PTI markets in Tokyo Shanghai Hong Kong and Seoul were all in the red on Tuesday morning following the sharp losses in US marketsThe pressure on Indian equities was further compounded by activity in the oil market Global oil benchmark Brent crude was trading flat at USD 6928 per barrel providing little support to the marketAccording to exchange data cited by PTI Foreign Institutional Investors FIIs sold off equities worth 48541 crore on Monday while Domestic Institutional Investors DIIs were net buyers picking up equities worth 26351 croreThe weakness in the market on Tuesday follows a similar decline in the previous session On Monday the Sensex fell by 21741 points to close at 7411517 while the Nifty dropped 9220 points to settle at 2246030Market analysts expect continued volatility in the coming sessions as investors assess the impact of trade tensions economic data and global market trends With the US economy under pressure and signs of weakness in Asia market participants are likely to remain cautious until more clarity emerges on the tariff situation and broader economic outlookAs per PTI reports the pressure on US stocks and its spillover effect on Asian and Indian markets underscore the fragile state of the global economy with investors seeking safer assets amid rising uncertaintyWith inputs from PTI