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2h ago

Indian Stocks Slide as New U.S. Tariffs Take Effect; Sensex, Nifty Extend Losses

Analysts expect a short-lived shock cushioned by strong domestic flows.

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The Bombay Stock Exchange building on Dalal Street in Mumbai.
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A man reads a newspaper with reports on tariffs after US President Donald Trump announced an additional 25% tariff on Indian goods

Overview

  • An additional 25% U.S. levy tied to Russia-related security concerns began at 12:01 am EDT on Aug. 27, doubling duties on many Indian goods to as much as 50%.
  • On reopening Aug. 28, the Sensex fell more than 600 points at lows to near 80,200 and the Nifty slipped below 24,600, with India VIX up about 7%.
  • Foreign investors sold roughly Rs 6,500–6,517 crore around the selloff as domestic institutions bought about Rs 7,060 crore, helping steady flows.
  • Export-facing sectors led declines, with textiles, gems and jewellery, seafood, chemicals and auto components seen most exposed, while pharma and smartphones face limited direct impact for now.
  • Tuesday’s pre-holiday drop wiped about Rs 5.41 lakh crore from BSE market value, and traders cite 24,500 support and 24,850 resistance on Nifty as key near-term levels.