Overview

• An additional 25 percentage points on many Indian imports took effect at 12:01 am EDT on Aug. 27 via a Department of Homeland Security notice that cited risks linked to Russia.
• Selling accelerated when markets reopened on Aug. 28, with the Sensex closing at 80,080.57 (-706) and the Nifty at 24,500.90 (-211) as IT shares led declines and the bank index fell 630 points.
• Foreign portfolio investors were heavy sellers earlier in the week (roughly Rs 6,500 crore net on Aug. 26) while domestic institutions bought about Rs 7,060 crore, with traders reporting elevated volatility.
• Analysts flag textiles, gems and jewellery, seafood, chemicals and auto components as most exposed, whereas pharmaceuticals and several electronics/semiconductor lines are largely outside the immediate scope.
• Strategists point to support near 24,500 and resistance around 24,850–25,000, noting the market impact could be cushioned by ongoing negotiations, implementation frictions and a brief policy lift from cotton duty relief.