Indian stock markets opened on a cautious note on Monday, with investors awaiting a positive outcome from the US-Russia meeting scheduled for this weekend.
Indian equity markets are set for a choppy week ahead as investors brace for any new development on escalating trade tensions with the United States, besides the release of key domestic inflation data for July.
Sensex closed the day at 80,543.99 points, down 166.26 points or 0.21 per cent, while Nifty closed at 24,574.20 points, down 75.35 points or 0.31 per cent.
At the closing of the trading in the stock markets today, the BSE Sensex was at 80,710.25, slipping over 308 points or 0.38 per cent, while the Nifty 50 at National Stock Exchange (NSE) was down 73.20 points or 0.30 per cent at 24,649.55.
Indian stock markets opened sharply lower on Thursday, witnessing a major sell-off after US President Donald Trump announced a 25 per cent tariff on Indian goods, along with penalties on purchases of Russian crude and defence equipment.
Indian equity benchmarks settled marginally higher Wednesday, possibly due to some fresh buying, but analysts are of the view that uncertainty around the India-US trade front will continue to remain key headwinds.
The benchmark indices continued to face selling pressure at higher levels, with analysts indicating that the India-US new interim deal is unlikely to be finalised before the August 1 deadline. On Sunday, the US administration indicated that the August 1 deadline wouldn't be extended further.
At the end of the trading session, BSE Sensex was up 442.62 points or 0.54 per cent at 82,200.34, and the Nifty 50 at National Stock Exchange (NSE) was up 122.30 points or 0.49 per cent at 25,090.70.
Participants in the Indian stock markets will closely monitor ongoing tariff-related discussions, high-frequency indicators from both the US and India, two consecutive declines in forex reserves, and the earnings of the companies.