It was yet another volatile session for the Indian stock market on Monday, January 19, as investor sentiment toward risky assets took a hit amid renewed worries over a potential escalation in global trade tensions and weaker-than-expected performances from select heavyweights, which kept key averages under pressure throughout the day.
Both the Nifty 50 and Sensex opened lower after US President Donald Trump proposed new levies on eight European countries, reviving tariff-related concerns across markets. The sell-off intensified as Reliance Industries and ICICI Bank came under pressure, with investors appearing disappointed by the companies’ December-quarter performances.
Consequently, the Nifty 50 closed down 0.40% at 25,591, while the S&P BSE Sensex finished at 83,332, a 0.30% decline from the previous close. The broader market mirrored the weak trend, with the Nifty Midcap 100 falling 0.50% and the Nifty Smallcap 100 index closing sharply lower by over 1%.
Trump had said over the weekend that he would impose a 10% tariff on goods from eight European countries starting February 1, rising to 25% in June unless a deal is reached for a “purchase of Greenland.” This revived tariff-related concerns for global markets, which had scaled to new peaks in 2025, largely driven by AI optimism.
Since the start of the year, Trump has reopened his tariff playbook. Earlier this month, he warned of 25% tariffs on countries doing business with Iran, and he had also announced a massive 500% tariff on countries importing crude from Russia.
