Mon Feb 03 21:14:22 IST 2025: ## Global Trade War Jitters and Budget Concerns Drag Indian Markets Down
**Mumbai, India** – Indian stock markets experienced a downturn on Monday, mirroring a global trend sparked by US President Trump’s escalating trade war with Canada, Mexico, and China. The 30-share Sensex closed virtually flat at 77,186.74, down 319.22 points (0.41%), while the Nifty fell 31.75 points (0.52%) to 23,361.05.
The selling pressure was widespread, with banking, energy, and fast-moving consumer goods (FMCG) sectors suffering the most significant losses. Although the IT sector showed some resilience, the overall market sentiment was dampened by the weekend’s budget announcements, which were seen as lacking sufficient support for capital-intensive sectors.
Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, attributed the negative market performance to both the global trade uncertainties and the perceived shortcomings of the budget regarding capital expenditure. The global trade tensions are creating considerable uncertainty and impacting investor confidence worldwide.
First Piper 