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3mo ago

Indian Markets Close Lower on IT Sector Slump after US Appeals Court Restores Tariffs

Uncertainty over reinstated US tariffs drove IT-sector selling that overshadowed positive RBI growth outlook.

NEW YORK, NEW YORK - MAY 27: Traders work on the floor of the New York Stock Exchange during morning trading on May 27, 2025 in New York City. The stock market opened high with the Dow Jones leading the way opening up over 300 points, a day after U.S. President Donald Trump announced that he has agreed to an extension on the 50% tariff deadline on the European Union until July 9th. (Photo by Michael M. Santiago/Getty Images)
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Overview

  • The BSE Sensex fell 182.01 points to 81,451.01 and the NSE Nifty lost 82.90 points to 24,750.70, marking a second consecutive weekly decline of around 0.4%.
  • IT shares were the biggest drags with Tech Mahindra, HCL Tech and Infosys among the top decliners and Asian markets also weakened.
  • The US Court of Appeals temporarily reinstated President Donald Trump’s reciprocal tariffs on foreign imports, reigniting trade-policy concerns.
  • India’s industrial production growth slowed to 2.7% in April, denting sentiment even as the RBI forecast that India will remain the fastest-growing major economy in FY26.
  • Foreign institutional investors bought equities worth Rs 884.03 crore on Thursday while domestic institutions added Rs 4,286.50 crore ahead of Friday’s GDP data release.