Indian stock markets nosedived on Friday, February 21, 2025 as selling by Foreign Portfolio Investors (FPIs) intensified. Benchmark BSE Sensex plummeted 424 points and settled at 75,311. While, NSE Nifty skidded in excess of 100 points and closed just below the crucial 22,800 levels from technical viewpoint. Auto, financial stocks drag Sensex down Stocks like MM, Adani Ports, Tata Motors, Power Grid, Sun Pharma, ICICI Bank, Kotak Mahindra Bank, SBI, Ultra Cement, Maruti, Axis Bank, etc were the major losers in the 30 companies pack. Nifty Auto, Pharma get weighed down on Trump tariff fears In the sectoral indices of the National Stock Exchange’s (NSE), Nifty Auto and Pharma tanked the most. US President Donald Trump had announced plans to impose 25% tariffs on auto, semiconductor, and pharmaceutical imports from April 25, 2025, onwards. This has led to meltdown of Indian equities of the relevant sectors and also that of other Asian markets. Mid, small cap stocks too show bearishness albeit of lesser intensity The small cap stock gauge of the BSE also traded in red. The 20 constituent index fell nearly 200 points to close at 45,856. Asian peers make contrarian move Unabated FIIs selling continues On February 20, the Foreign Institutional Investors (FIIs) further sold the domestic equities worth ₹3,311.55 crore. While, the Domestic Institutional Investors (DIIs) bought shares worth ₹3,907.64 crore. Overseas investors have mercilessly sold Indian equities right since September 2024. Negative crude Oil prices In energy trading, Brent crude, the international standard, traded negatively at $76.03 per barrel at the time of filing this report on Friday. While, the Indian currency rupee appreciated 14 paise to 86.50 against the US dollar.