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Sensex Dips, Nifty Falls Below 25,500 After Trump Imposes BRICS, Copper and Pharma Tariffs

Heightened U.S. trade levies have driven range-bound sessions with divergent institutional flows ahead of the first quarter earnings season.

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Overview

  • The BSE Sensex opened down about 114 points at 83,599 and the Nifty slid 33 points to 25,490 as investors reacted to new 10% BRICS, 50% copper and potential 200% pharmaceutical tariffs effective August 1.
  • Foreign portfolio investors pulled out a net ₹26 crore on July 8, while domestic institutional investors injected ₹1,367 crore into equities, supporting market breadth despite global headwinds.
  • IT and oil & gas sectors underperformed, with HCL Technologies down over 2%, Tata Steel off nearly 1.8% and Tech Mahindra slipping 1.4%, contrasting with outperformance in consumption and financial names.
  • Trading has been confined to a narrow band with global tariff jitters weighing on sentiment, futures pointing to another cautious open and analysts warning of increased volatility.
  • Q1 FY26 earnings season has kicked off, with 42 BSE-listed firms including TCS, Avenue Supermarts and Tata Elxsi set to unveil April–June results that could steer stock-specific moves.