Overview

• An additional 25% levy on selected Indian imports took effect on August 27, lifting total duties to about 50% on some goods under a DHS order linked to US concerns over Russia.
• The Sensex fell 705.97 points to 80,080.57 and the Nifty dropped 211.15 points to 24,500.90, with IT and banking shares leading broad declines.
• Across two sessions, the Sensex is down 1,555 points and the Nifty nearly 2%, as Thursday’s trade erased about Rs 3.9 lakh crore in market value after a Rs 5.41 lakh crore hit on Tuesday.
• Foreign investors sold over Rs 6,500 crore of equities on Tuesday while domestic institutions bought about Rs 7,060 crore; a Wednesday market holiday and monthly expiry intensified volatility on reopening.
• The government extended duty-free cotton imports to December 31 to aid textile exporters, as analysts flagged textiles and gems & jewellery as most exposed, with pharma and electronics seen facing limited direct impact and the shock widely viewed as temporary pending talks.