Sensex Tumbles by 500 Pts; Nifty Slips Below 23,000

Indian benchmark indices witnessed a steep decline in today's trading session. As of 9:19 am, Sensex was down 564 points or 0.74% at 75,626.79, Nifty slipped by 165 points or 0.72% at 22,926.80.

The equity market closed in red on Friday's trading session amid poor Q3 earnings and persistent FII outflows.

The introduction of the Union Budget on February 1 will also set tone for the economy and the benchmark indices. A special trading session will also be held on the same day to assess the real-time reaction to the policy announcements.

Stock exchanges across the globe reported mixed reactions starting with Wall Street’s negative closing on Friday as investors assessed economic data and corporate earnings.

Asian stocks soared in the early trade despite Trump’s decision to levy tariffs and impose sanctions on Colombia.

Gold prices slipped in the early trade as the dollar appreciated while investors kept a close watch on the Fed's interest rate outlook. The Fed's first meeting of 2025 is set to be held later this week. Crude oil slipped 1% on Monday after US President Donald Trump instructed OPEC to reduce oil prices, which in turn comes following the announcement to boost U.S. oil and gas output.

In Friday's trading session, Foreign portfolio investors (FPIs) offloaded shares worth ₹2,758 crore on Friday, domestic institutional investors (DIIs) pumped in shares worth 2,402 crore.