Stock market today: The stock market fell sharply on Tuesday triggered by heavy selling pressure after the United States issued a draft notice implementing an additional 25% on Indian exports.
BSE benchmark Sensex dipped below the 81,000 mark, shredding over 800 points, while Nifty also plunged 1% as investor’s sentiments were weakened by persistent foreign fund outlaws and a weak global trend.
The 30-share
BSE Sensex slipped 849.37 points, or 1.04%, to close at 80,786.54. Intra-day, the index sank as much as 949.93 points, or 1.16%, to touch 80,685.98.
The NSE Nifty also faced the heat, slipping 255.70 points, or 1.02%, to end at 24,712.05. During the session, it dropped 278.15 points, or 1.11%,to a low of 24,689.60.
The additional 25% tariff move was announced by the US President Donald Trump earlier this month, which joins the already implemented 25% duty on Indian imports, taking the total to 50%.
According to the draft notice from the Department of Homeland Security, the new levies will apply to Indian products “that are entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 am Eastern Daylight Time on August 27, 2025”. The notice said the tariffs were tied to “threats to the US by the government of the Russian Federation”, with India falling under that broader strategy.
Among the Sensex pack, Sun Pharmaceutical, Tata Steel, Trent, Bajaj Finance, Mahindra & Mahindra, Bajaj Finserv, Reliance Industries, Axis Bank, Tech Mahindra, Adani Ports, Titan, BEL and Larsen & Toubro ended among the top losers.
However, Hindustan Unilever, Maruti Suzuki India, ITC, Tata Consultancy Services and UltraTech Cement managed to post gains.
Foreign fund outflows further weighed on the markets. Foreign Institutional Investors offloaded equities worth Rs 2,466.24 crore on Monday, according to exchange data.
The weakness was in line with global cues. Asian markets ended lower, with Hong Kong’s Hang Seng, Japan’s Nikkei 225, South Korea’s Kospi and Shanghai’s SSE Composite all in the red. European markets were also trading weaker, while US markets had closed lower on Monday.
Brent crude, the global oil benchmark, dropped 1.48% to $67.78 a barrel, adding to the cautious sentiment.
On Monday, markets had closed on a positive note. The Sensex gained 329.06 points to finish at 81,635.91, while the Nifty added 97.65 points to settle at 24,967.75.
(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)
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