India Equity Benchmarks Dip on ITC Stake Sale, Global Tariff Concerns

Indian equity markets showed mixed performance amid global trade uncertainty and domestic corporate developments. The Nifty 50 and BSE Sensex edged lower due to declines in information technology and consumer stocks, notably ITC, which fell following British American Tobacco's planned block sale of its stake. Despite these sectoral weaknesses, broader indices including small-cap and mid-cap segments registered modest gains, supported by strong institutional inflows and expectations of improved corporate earnings. Market optimism was tempered by concerns over U.S. tariffs, which have been temporarily reinstated, affecting IT companies reliant on U.S. revenues. Investors also awaited key domestic data such as GDP figures and the Reserve Bank of India's upcoming policy announcement, while global cues remained cautiously positive with easing trade tensions between the U.S. and Europe and declining U.S. Treasury yields. Individual stocks experienced volatility, with Bajaj Auto and Ola Electric falling on supply chain and revenue concerns, whereas Life Insurance Corporation of India posted profits and saw its shares rise.