The BSE Sensex fell 530 points, or 0.6%, to 83,040 in morning trade on Monday, extending losses for a second consecutive session and hitting its lowest level since October 15. Meanwhile, the Nifty 50 slipped below 25,500, mainly weighed down by declines in heavyweight stocks and concerns over escalating global trade tensions. ICICI Bank and Reliance Industries fell 3.4% and 2.4%, respectively, after missing quarterly profit estimates. Wipro tumbled 7.6% after issuing a subdued revenue forecast for the March quarter. Most sectors traded in the red, including IT, banking and auto stocks. Traders turned cautious at the start of the week as global trade tensions intensified after US President Donald Trump vowed on Saturday to impose escalating tariffs from February 1 on several European countries, pushing investors toward safe havens. Other shares also posted losses, with Tata Motors plunging 3.0%, while Infosys and Larsen & Toubro fell 1.3% and 1.0%, respectively.
