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Markets Fall as Investors Stay Wary Over Trump’s Tariff Pledge

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The stock market experienced a significant drop on Monday, falling by over 0.7%. Investor sentiment remained cautious in response to US President Donald Trump’s commitment to tariffs. This reaction mirrored declines across many Asian markets, with concerns increasing over potential disruptions to global supply chains.

Benchmark indices fell for the fourth consecutive session. By the close of trading, the Sensex had decreased by 0.7% (or 548 points), finishing at 77,311.80. Similarly, the Nifty50 index saw a decline of 0.76% (or 178.35 points), ending at 23,381.60. The Nifty fluctuated throughout the day, reaching a high of 23,568.6 and dipping to a low of 23,316.3, while the Sensex ranged between 77,849.58 and 77,106.89. All sectoral indices ended in negative territory, with metals, media, pharmaceuticals, consumer durables, energy, and real estate each down by 2%.

Indices such as Nifty Metal, Realty, Healthcare, Consumer Durables, Media, and select Consumer Durables experienced losses exceeding 2%. The Nifty Midcap 50 closed lower by 2.26%, while small-cap stocks lagged, with the Nifty Small Cap 100 finishing down by 2.11% at 17,006.85, a loss of 358.15 points.

On the Nifty 50, the notable gainers were Kotak Mahindra Bank (up 1.60%), Bharti Airtel (up 0.97%), Britannia Industries (up 0.80%), Tata Consumer (up 0.62%), and HCL Technologies (up 0.48%). In contrast, the biggest losers were Trent (down 4.72%), Power Grid Corporation of India (down 3.40%), Tata Steel (down 3.09%), Titan Company (down 2.84%), and Oil & Natural Gas Corporation (down 2.59%).

The Bank Nifty concluded at 50,158.85, with an intraday high of 50,155.65 and a low of 49,703.10. The Indian rupee reached a new record low of 87.9563 against the US dollar due to the introduction of new tariff plans by the US president. Out of the 20 constituents in the Nifty Pharma index, 19 saw declines, with Alkem Laboratories and Ipca Laboratories among the top losers. The Nifty Pharma index posted a 9% decline for January.

Among individual stocks, shares of Mazagon Dock Shipbuilders surged by 9.4% to Rs 2,440 for the second consecutive session. Bharat Electronics Ltd gained nearly 1% after securing various orders. Mahindra & Mahindra’s shares rose by about 2%, trading at Rs 3,244.10, thanks to strong Q3 earnings that drove the increase. In contrast, Swiggy’s shares fell by over 5%, marking an 18% decline since reporting its Q3FY25 earnings.

Continuing threats from US tariffs have affected market sentiment, while companies are facing downward revisions in earnings estimates due to weak demand conditions.

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Stalin Implements Minor Cabinet Reshuffle Following Departure of Two Ministers

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Tamil Nadu Chief Minister M K Stalin conducted a minor cabinet reshuffle on Monday following the resignations of Excise Minister V Senthil Balaji and Forest Minister K Ponmudy. Former Dairy Development Minister Mano Thangaraj has made a return to the cabinet.

Thangaraj was sworn in at a ceremony at the Raj Bhavan, where Governor R N Ravi administered the oath of office and secrecy. The event was attended by Chief Minister Stalin, his son and Deputy CM Udhayanidhi Stalin, along with other ministers and officials. Udhayanidhi continues to hold the third position in the order of protocol, following Chief Minister Stalin and veteran minister K Duraimurugan, who oversees irrigation.

Representing the Padmanabapuram constituency in Kanyakumari district, Thangaraj will be responsible for Dairy Development, a role currently held by Raja Kannappan. He is known to have close ties with Kanimozhi, the party’s prominent female leader and MP. With Thangaraj’s induction, the coastal district once again has representation in the council of ministers.

On Sunday, the portfolios of Senthil Balaji and Ponmudy were reallocated. Raja Kannappan has taken over the Forest Department. Transport Minister SS Sivasankar has also assumed additional responsibilities for Electricity, while Housing Minister S Muthusamy now oversees Prohibition and Excise.

Muthusamy, originally from Erode in Western Tamil Nadu, recently transitioned from the AIADMK to the DMK. He previously managed the Prohibition and Excise portfolio during the time when Senthil Balaji was appointed Minister without Portfolio following his arrest by the Enforcement Directorate.

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Pak Army Chief Makes Headlines Amid Disappearance Rumors

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Pakistan Army Chief General Syed Asim Munir became a trending topic on social media, with many users inquiring about his whereabouts. Amid escalating tensions between India and Pakistan, and following Munir’s contentious remarks, rumors emerged on X claiming that the Pakistani General either fled the country or was hiding in an underground bunker in Rawalpindi.

Hashtags #MunirOut and #MunirMIA trended on X on Monday. Just days prior to the deadly terror attack in Pahalgam, Munir referred to Kashmir as Pakistan’s “Jugular Vein” and asserted that Hindus and Muslims are “two separate nations.”

During his address at a Convention for Overseas Pakistanis in Islamabad, Munir stated, “Our stance is unequivocal: it is our jugular vein, it will remain our jugular vein, and we will not abandon our Kashmiri brothers in their courageous struggle.”

Following the attack, he continued to emphasize the two-nation theory while addressing the passing out parade at the Pakistan Military Academy (PMA) in Kakul, Abbottabad. He remarked that the theory rests on the fundamental belief that Muslims and Hindus constitute two distinct nations. “Muslims differ from Hindus in all aspects—religion, customs, traditions, beliefs, and aspirations,” he stated.

Munir further declared that Pakistan’s existence resulted from “unparalleled struggle and sacrifices,” and underscored that its defense is a duty of the armed forces, saying, “Our forefathers sacrificed greatly for Pakistan’s creation. We know how to protect it.”

To dispel the rumors regarding the Army Chief’s disappearance, the Pakistan Prime Minister’s Office released a photo featuring Prime Minister Shehbaz Sharif and General Munir at an event, with a caption noting the date and location. “Prime Minister Shehbaz Sharif, Chief of Army Staff General Syed Asim Munir, and officers of PMA Kakul in a group photo with graduating officers of the 151st Long Course at PMA Kakul, Abbottabad. April 2025. (sic),” read the caption.

Unverified claims circulating on social media suggested not only that Munir was missing but also that there had been no updates regarding his family. Rumors indicated that his family had reportedly fled the country following the Pahalgam attack.

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Patanjali University and Uttarakhand Technical University Establish MoU to Enhance Academic and Research Collaboration

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The University of Patanjali in Haridwar and Veer Madho Singh Bhandari Uttarakhand Technical University in Dehradun signed a Memorandum of Understanding (MoU) on Monday to foster academic collaboration and research initiatives. The agreement was officially signed by Acharya Balkrishna, Vice Chancellor of the University of Patanjali, and Prof. Onkar Singh, Vice Chancellor of Uttarakhand Technical University.

Both leaders highlighted that this MoU will facilitate collaboration in various fields, including science, Ayurveda, naturopathy, yoga science, agriculture, and other applied sciences and professional courses.

Under the terms of the agreement, both universities aim to enhance mutual cooperation in areas such as agriculture, technological innovation, entrepreneurship development, and student academic and skill growth.

Furthermore, students will have the chance to participate in training, internships, and research through student exchange programs. The MoU will also support joint research initiatives, development activities, skill enhancement programs, COVID-related research, public health advancements, startup activities, and other collaborative projects.

The overarching goal is to create new employment opportunities for the youth by implementing skill development programs across agriculture, science, technology, and health sectors.

Both institutions will organize seminars, workshops, and specialized training programs on topics of shared interest. Additionally, they will focus on improving student participation and leadership through exchange opportunities while providing avenues for training, internships, and research.

Present at the signing were Pro-Vice Chancellor Prof. Mank Kumar Aggarwal and Examination Controller Dr. Arvind Kumar Singh from the University of Patanjali, as well as Vice Chancellor Prof. Onkar Singh, Examination Controller Dr. B.K. Patel, and Finance Officer Vikram Singh Jantal from Uttarakhand Technical University, along with other senior officials.

The dignitaries hailed this MoU as a significant milestone in education and research, expressing optimism about its potential to yield substantial benefits in the future.

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