“The Indian equity market extended its decline for a second day, pressured by renewed tariff threats and punitive duties that could undermine India’s global trade competitiveness. Investor sentiment weakened further as FIIs now hold the second-highest net short position in derivatives, reflecting elevated caution. Globally, markets turned negative amid rising U.S. inflation and trade tensions. While the sell-off was broad-based, FMCG stocks emerged as a defensive play, supported by attractive valuations, resilient demand, and relative immunity to external trade disruptions.”
