The Indian markets took a massive beating on Tuesday. The BSE Sensex settled the session below 80,800 at 80,786.54, crashing almost 850 points, while the NSE Nifty50 ended the day just above 24,700, clocking a loss of more than 250 points.
On the 30-share Sensex, HUL, Maruti, ITC, TCS, Eternal, and UltraTech Cement remained the only exceptions in green. Meanwhile, the laggards included Sun Pharma, Tata Steel, Trent, Bajaj Finance, and Bajaj Finserv.
In the broader markets, the Nifty Midcap Select dominated in red and crashed 2.17 per cent. Sectorally, the Financial Services Ex-Bank and Realty indices led in red and tanked 2.36 per cent and 2.24 per cent respectively.
More US Tariffs Confirmed For August 27
This downfall followed a confirmation from the US that more tariffs are coming for India. The new tariff structure, announced earlier this month by US President Donald Trump, will take effect from Wednesday.
According to a notification from the US Homeland Security Department, the additional 25 per cent duty will apply to items entering the country for consumption or released from bonded warehouses from 12:01 AM EDT (9:31 PM IST) on August 27.
Indian exporters are already bracing for a significant blow as Washington finalises plans to impose steep trade duties on goods originating from India, a move that risks escalating bilateral tensions. Certain exemptions have been outlined for in-transit consignments with valid certification, humanitarian shipments, and goods covered under reciprocal trade programmes.
The duty hike will effectively double existing levies to 50 per cent on several Indian products, making it one of the most severe measures imposed by the US in recent years. The decision, US officials said, is a response to India’s rising imports of Russian crude, which Washington argues indirectly supports Moscow’s military actions in Ukraine.
On the institutional side, foreign investors remained net sellers for a second straight session on Monday, offloading equities worth Rs 2,466 crore. In contrast, domestic institutional investors stepped up buying, purchasing shares worth Rs 3,176 crore.
Markets Opened Today In Red
Notably, indices witnessed a weak start today morning, weighed down by concerns over an impending US tariff hike on Indian goods. Amid heightened volatility, the BSE Sensex slipped below the 81,500 mark in early trade, losing over 200 points, while the NSE Nifty50 dropped more than 50 points to test the 24,900 level around 9:15 AM.
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