Sensex sinks below 75,000 mark on weak U.S. markets, FII outflows

Falling for the fifth day in a row on Monday (February 24, 2025), equity benchmark BSE Sensex tumbled over 1 per cent to drop below the crucial 75,000 level, tracking a US market trend and unabated foreign fund outflows amid concerns over U.S. tariffs.

The 30-share BSE benchmark tanked 856.65 points or 1.14% to settle at 74,454.41. During the day, it plummeted 923.62 points or 1.22% to 74,387.44.

The NSE Nifty dropped 242.55 points or 1.06% to 22,553.35.

In the last five trading sessions, the BSE barometer lost 1,542.45 points or 2%, and the Nifty tanked 406.15 points or 1.76%.

From the Sensex pack, HCL Tech, Zomato, Tata Consultancy Services, Infosys, Tech Mahindra, Bharti Airtel, Tata Steel and NTPC were among the biggest laggards.

In contrast, Mahindra & Mahindra, Kotak Mahindra Bank, Maruti, Nestle and ITC were among the gainers.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,449.15 crore on Friday, according to exchange data.

Foreign investors have pulled out over ₹23,710 crore from equity markets so far this month, pushing total outflows past Rs 1 lakh crore in 2025 amid rising global trade tensions.

"The D-Street indices experienced a sharp drop to an eight-month low as market sentiment remained subdued. The decline was primarily driven by significant losses in heavyweight stocks, especially within the IT sector. This weakness followed reports of declining consumer confidence in the US, casting a shadow over the country's growth outlook.

"The broader market felt the impact, pulling down both small and midcap indices," Ameya Ranadive, Chartered Market Technician, CFTe, Sr Technical Analyst, StoxBox, said.

In Asian markets, Seoul, Shanghai and Hong Kong settled lower. Equity markets were closed in Tokyo for a holiday.

European markets were trading mostly in positive territory. U.S. markets ended significantly lower on Friday.

"Global headwinds continue to weigh on the domestic market, with persistent volatility causing uncertainty among retail investors, who generally have a lower risk appetite. Weak US consumer sentiment and tariff concerns may further pressure export-oriented sectors such as IT," Vinod Nair, Head of Research, Geojit Financial Services, said.

The BSE smallcap gauge declined 1.31 per cent, and the midcap index dipped 0.78 per cent.

Global oil benchmark Brent crude rose 0.04 per cent to $74.46 a barrel.

On Friday, the BSE benchmark dropped 424.90 points or 0.56% to settle at 75,311.06. The Nifty declined 117.25 points or 0.51% to 22,795.90.