Sensex retreats, rupee slides on fresh tariff threat

NEW DELHI/ MUMBAI: Indian stock market indices were in the red on Monday, while the rupee extended its weakness against the US dollar, amid concerns over American President Donald Trump’s fresh comments over tariffs.The bellwether BSE sensex closed 0.4% or 332 points lower at 85,440 points, while NSE closed 0.3% lower at 26,250. The sensex was dragged down by HDFC Bank, tech stocks and Reliance.The rupee weakened for the fourth straight session and closed 10 paise lower at 90.30 against the US dollar, as geopolitical uncertainty strengthened the greenback’s appeal. The Indian currency has lost 55 paise since Dec 30, 2025, when it closed at 89.75 a dollar.Most Asian markets, however, gained, while Wall Street’s main indices surged on Monday, with the blue-chip Dow hitting an all-time high due to soaring financial stocks, while energy firms rose after a US military strike that captured Venezuelan President Nicolas Maduro.Investors bet the move against Venezuela’s leadership would allow American firms access to the world’s largest oil reserves. S&P’s energy index gained 1.3%, with heavyweights Exxon Mobil and Chevron rising 1% and 4%, respectively. Defence-related stocks also advanced after Washington’s military action. Lockheed Martin rose 2.5% and General Dynamics climbed 2.8%. The broader aerospace and defence index gained 1.2% to hit an all-time high. The price of US crude jumped 1.4% to $58.1 a barrel with brent rising 1.2% to $61.5 a barrel.