Indian equity indices ended Thursday’s session nearly one per cent lower, as investor sentiment weakened following the implementation of 50 per cent US tariffs on Indian goods.
The Sensex closed at 80,080.57, down 705 points or 0.87 per cent. The 30-share index opened lower at 80,754 against the previous close of 80,786.54 and extended losses to touch an intra-day low of 80,013.02. The Nifty settled at 24,500.90, declining 211.15 points or 0.85 per cent.
“Domestic equities ended lower as pessimism took hold following the implementation of tariffs on Indian goods. While the cotton import duty exemption provided a brief respite, triggering a short-lived recovery, investor mood remained fragile. Large-cap stocks fell, and mid- and small-caps underperformed amid risk-off sentiment,” said Vinod Nair, Head of Research, Geojit Financial Services.
Selling pressure was broad-based, with Auto, IT, FMCG, and Metals trading in the red, while consumer durables outperformed, supported by GST rationalisation and festive demand expectations.
Among the Sensex losers were HCL Tech, TCS, Power Grid, Infosys, Hindustan Unilever, HDFC Bank, ICICI Bank, Bharti Airtel, Mahindra & Mahindra, Tata Motors, Sun Pharma, NTPC, BEL, SBI, and Trent. Titan, L&T, Maruti Suzuki, and Axis Bank ended as top gainers.
Sectoral indices also closed in negative territory. Nifty Fin Services fell 1.20 per cent, Nifty Bank 1.16 per cent, Nifty FMCG 1.02 per cent, Nifty IT 1.59 per cent, and Nifty Auto 0.54 per cent. Broader indices mirrored the weakness — Nifty Small Cap 100 dipped 1.45 per cent, Nifty Midcap 100 fell 1.45 per cent, and Nifty 100 declined 0.93 per cent.
The rupee weakened further amid sustained FII outflows, with concerns persisting over India’s growth outlook and fiscal deficit.
“The imposition of a 50 per cent US tariff has raised uncertainty over exports, weighing on overall sentiment. Unless clarity emerges through negotiations with the US or trade agreements with other nations, investors are likely to remain cautious,” said Jateen Trivedi of LKP Securities. He projected the rupee to trade in the 87.25–88.25 range in the near term.
-IANS