Markets tumble Nifty below 24,900 on tariff worries

The Indian markets ended on a weak note on Thursday weighed down by weak global sentiment and uncertainty around the partial U.S.-China trade deal,with Nifty settling under 24,900 on the day of F&O expiry.At close, the Sensex was down 823.16 points or 1.00 percent at 81,691.98, and the Nifty was down 253.20 points or 1.01 percent at 24,888.20. About 1249 shares advanced, 2606 shares declined, and 134 shares unchanged.
Apollo Hospitals, Dr Reddy's Labs, Bajaj Finserv, Asian Paints, Tech Mahindra were the top gainers on the Nifty, while losers included Tata Motors, Shriram Finance, Trent, Titan Company, Coal India.On the sectoral front,all the sectoral indices ended in the red with auto, Consumer Durables, FMCG, metal, IT, power, oil & gas, realty down 1-2 percent.The BSE midcap index shed 1.5 percent and smallcap index down 1.3 percent.
Rupee Close: 
On 12 June'25,the Indian rupee declined 7 paise to close to 85.60 against the US dollar on Thursday amid a steep fall in the domestic equity markets and a rise in global crude oil prices.However, a weaker dollar against major currencies capped the losses, forex traders reportedly stated.
Trading Guide:
Vinod Nair, Head of Research, Geojit Investments reportedly quoted as saying,consolidation in domestic markets is evolving into a broad-based trend, now extending to large-cap stocks. Valuation concerns and rising oil prices driven by Middle East tensions are fuelling risk aversion among investors. IT, metals, and auto sectors have mostly underperformed.Adding to the uncertainty, the U.S. is considering unilateral tariff hikes on several key trading partners, with a decision expected within the next one to two weeks, ahead of an early July deadline.Meanwhile, gold is witnessing a fresh leg of safe-haven buying, amid escalating geopolitical and economic risks.
Market experts recommended five shares to buy -CIE Automotive India, Dishman Carbogen Amcis, Sterling and Wilson Renewable Energy, Alembic, and SMC Global Securities.

(Business Correspondent)