Indian stock markets witnessed a sharp decline on Thursday morning after former US President Donald Trump imposed a 25% tariff on Indian imports, triggering global economic concerns.
The Sensex dropped over 500 points (-0.67%), settling near 80,975, while the Nifty 50 fell more than 150 points (-0.60%) to around 24,704.
Oil sector stocks were the worst hit, reacting to Trump&rsquo;s announcement and fears of increased costs. Indian Oil Corporation Ltd (IOCL) plunged 3.12%, while Bharat Petroleum Corporation Ltd (BPCL) slipped 2.42% in early trade.
Market analysts say the broader indices may remain under pressure if diplomatic and trade negotiations between India and the US fail to ease tensions.
The sell-off reflects investor uncertainty around geopolitical developments, especially concerning penalties on Indian energy imports linked to Russia, and their potential ripple effect on India&rsquo;s fuel economy.
Read Also:&nbsp; <a href="https://www.benefitnews24.com/business/india-us-still-negotiating-tariff-deal/17233" target="_blank" rel="noopener">India, US Still Negotiating Tariff Deal</a>
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Indian markets drop as Trump imposes 25% tariff on Indian imports, oil stocks hit hardest

Sensex, Nifty Dip After US Tariff Threat

Indian markets drop as Trump imposes 25% tariff on Indian imports, oil stocks hit hardest

July 31, 2025 | 09:40 IST