Indian equity markets closed sharply lower on Thursday, with benchmark indices slipping nearly one per cent, a day after the United States enforced 50 per cent tariffs on Indian goods.
The Sensex ended the day at 80,080.57, down 705 points or 0.87 per cent. Opening in the red at 80,754 compared to the previous close of 80,786.54, the index extended its losses to hit an intraday low of 80,013.02. The Nifty also declined, settling at 24,500.90, a fall of 211.15 points or 0.85 per cent.
Analysts noted that the implementation of steep tariffs weighed heavily on investor sentiment, despite a temporary rebound triggered by expectations of policy support such as cotton import duty exemptions. The mood remained fragile, with large-cap stocks declining and mid- and small-caps underperforming amid risk-off sentiment.
Most key sectors, including Auto, IT, FMCG and Metals, ended in the red as investors opted for profit booking. Consumer durables, however, outperformed, supported by GST rationalisation and optimism ahead of festive demand.
Among the Sensex laggards were HCL Tech, TCS, Power Grid, Infosys, Hindustan Unilever, HDFC Bank, ICICI Bank, Bharti Airtel, Mahindra &amp; Mahindra, Trent, Tata Motors, Sun Pharma, NTPC, BEL, and SBI. On the other hand, Titan, L&amp;T, Maruti Suzuki, and Axis Bank emerged as top gainers.
Sectoral indices mirrored the weak trend: Nifty Fin Services dropped 1.20 per cent, Nifty Bank fell 1.16 per cent, Nifty FMCG lost 1.02 per cent, Nifty IT declined 1.59 per cent, while Nifty Auto shed 0.54 per cent. Broader indices also slipped, with Nifty Small Cap 100 down 1.45 per cent, Nifty Midcap 100 lower by 1.45 per cent, and Nifty 100 losing 0.93 per cent.
The rupee weakened further amid sustained foreign institutional investor (FII) outflows and concerns about India&rsquo;s growth prospects and fiscal deficit. Market experts suggested that the 50 per cent US tariff has created significant uncertainty around exports, and until clarity emerges either through negotiations with Washington or new trade partnerships, investor sentiment is likely to remain cautious.
The rupee is expected to remain under pressure in the near term, within a range of 87.25 to 88.25 against the dollar, according to analysts. [Except for the headline, this article has not been edited by the Benefit News editorial team and is published directly from the IANS news feed]

US Tariffs Drag Sensex, Nifty Nearly 1% Lower

Indian markets slip as US tariff shock sparks heavy selling across key sectors

US Tariffs Drag Sensex, Nifty Nearly 1% Lower

Indian markets slip as US tariff shock sparks heavy selling across key sectors

August 28, 2025 | 22:03 IST