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1h ago

Indian Stocks Slide as US Tariffs Take Effect, Nifty Falls Below 24,550

Export-focused shares came under pressure after the US lifted duties on many Indian goods to 50%, signaling a shaky near-term outlook.

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

  • Markets reopened Thursday to renewed selling, with the Sensex down about 600 points in early trade and the Nifty slipping toward the 24,500 zone.
  • The additional 25% US levy on Indian imports took effect Aug. 27, lifting total duties on many lines to 50% in a move linked by a DHS notice to risks associated with the Russian government.
  • Foreign institutional investors offloaded roughly Rs 6,500–6,580 crore on Tuesday as domestic institutions provided sizable support with net buying of about Rs 7,060 crore.
  • Analysts flagged immediate headwinds for textiles, gems and jewellery, seafood, chemicals and auto components, while defensives such as FMCG showed relative resilience.
  • Pre-market cues from GIFT Nifty pointed to a weak start and technical watchers highlighted supports near 24,670 and 24,500, with commentary focusing on elevated volatility and the prospect of ongoing US–India talks.