India, Feb. 10 -- Benchmark indices Sensex and Nifty closed in the red today, marking the fourth consecutive session of decline. While Sensex closed nearly 550 points or 0.70% lower at 77,311.80, Nifty ended over 178 points or 0.76% lower at 23,381.60.

Trump tariff concerns: US President Donald Trump announced plans to impose 25% tariffs on all steel and aluminum imports. This not only escalated trade tensions, which further increased skepticism among traders on global commodity prices. He also hinted that US may impose reciprocal tariffs on countries that tax US imports, following his earlier order to impose similar taxes on China, Mexico and Canada. He'd imposed temporary pause on the taxes imposed on China and Mexico.

Weak rupee: The...