Sensex, Nifty slip in early trade on FII selling, US tariff concerns

Equity benchmark indices Sensex and Nifty declined in early trade on Thursday amid persistent foreign fund outflows and concerns about potential US tariff hikesThe 30share BSE Sensex declined 25586 points to 8470528 in early tradeThe 50share NSE Nifty went down by 659 points to 2607485From the 30Sensex firms Tata Consultancy Services Asian Paints Maruti Tech Mahindra Infosys and UltraTech Cement were among the biggest laggardsHowever ICICI Bank Adani Ports Bharat Electronics and Hindustan Unilever were among the gainersForeign institutional investors offloaded equities worth Rs 152771 crore on Wednesday while domestic institutional investors bought stocks worth Rs 288932 crore according to exchange dataFrom the fundamental perspective there is good news for the economy and markets Advanced estimates project the FY26 GDP growth at an impressive 7437This reflects the underlying resilience of the economy despite Trump tariffsHowever this strong fundamental is unlikely to reflect in the market very soon since the muchawaited USIndia trade deal which is critical for Indias sustained growth and macroeconomic stability is not happening This and the continuing FII selling are impacting the market VK Vijayakumar Chief Investment Strategist Geojit Investments Limited saidThe Indian economy is expected to grow by 74 per cent in the current fiscal maintaining its status as the worlds fastestgrowing major economy despite punitive US tariffs and geopolitical tensionsThe First Advance Estimates released by the Ministry of Statistics and Programme Implementation MoSPI on Wednesday put GDP growth in 202526 April 2025 to March 2026 fiscal year at better than 73 per cent forecast by the RBI and the governments initial projection of 6368 per centWith both the Nifty and Bank Nifty holding key support levels but encountering stiff overhead resistance market sentiment remains cautious amid elevated geopolitical tensions renewed tariffrelated concerns and continued foreign portfolio outflows Ponmudi R CEO of Enrich Money an online trading and wealth tech firm saidIn Asian markets South Koreas Kospi index and Shanghais SSE Composite index traded higher while Japans Nikkei 225 index and Hong Kongs Hang Seng index quoted lowerUS markets ended mostly lower on WednesdayBrent crude the global oil benchmark climbed 040 per cent to USD 6020 per barrelOn Wednesday the Sensex declined 10220 points or 012 per cent to settle at 8496114The Nifty went down by 3795 points or 014 per cent to 2614075This story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever