Sensex, Nifty tumble: Why is stock market down today?

Why Is Stock Market Down Today? Indian benchmark indices were trading near the day’s low on Tuesday, weighed down by weak global sentiment ahead of fresh US tariffs set to take effect from Wednesday. The BSE Sensex slipped 672 points, or 0.82 per cent, to 80,964, while the NSE Nifty50 declined 94 points, or 0.78 per cent, to 24,774.

Broader markets also came under pressure, with the Nifty MidCap and SmallCap indices falling over 1 per cent each.

Shares of Sun Pharma, HDFC Bank, Tata Steel, Bharat Electronics, and ICICI Bank were among the major drags on the Sensex on Tuesday, slipping between 1% and 2%. Sectorally, financials bore the brunt with the Nifty Bank falling 0.9% and the Nifty PSU Bank index shedding 0.6%, weighed down by losses in HDFC Bank and ICICI Bank, both down 1.2%. IT stocks, which derive a large share of revenue from the US, also edged lower by 0.2%.