Market falls for the 10th straight session, Nifty logs its longest losing streak

MUMBAI: India’s equity market fell for the 10th straight session on Tuesday with the benchmark index – NSE Nifty50 – logging its longest daily losing streak since getting launched nearly three decades ago in 1996. Nifty has now closed lower for 18 out of the last 19 trading sessions.

Global markets, including India, were under pressure on Tuesday after the Trump administration imposed a 25% tariff on all imports in the US coming from Canada and Mexico, and increased tariffs on Chinese goods by an additional 10%, on top of existing duties. Following this, Canada, Mexico and China retailed by increasing tariffs on US goods.

These tariffs would not only impact global trade ecosystems but have the potential to drive inflation in the US. This will force the Federal Reserve to maintain higher interest rates for longer duration which in turn would keep foreign investors away from emerging markets like India.

Foreign institutional investors (FII) offloaded equities worth Rs 3,405.82 crore on Tuesday, according to exchange data. FIIs pulled out Rs 1.12 lakh crore in the first two months of 2025.

Additionally, sentiment in the D-Street also took a hit after India’s manufacturing PMI fell to 56.3 in February, marking a 14-month low and signalling a slowdown in new orders and production momentum.