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6h ago

U.S. Tariffs on India Take Effect as Markets Brace for Reopening After Rs 5.4 Lakh Crore Selloff

Traders face the first session since the levies took effect with signals pointing to a soft open.

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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Sensex and Nifty fell sharply in early trade on Thursday.

Overview

  • A Department of Homeland Security draft order added a 25% levy from 12:01 a.m. EDT on Aug. 27, lifting total duties on many Indian exports to as much as 50% and citing threats linked to Russia.
  • On Tuesday, the Sensex fell 849 points to 80,786 and BSE market value shrank by about Rs 5.41 lakh crore as foreign investors sold roughly Rs 6,500–6,580 crore and domestic institutions bought around Rs 7,000 crore.
  • Indian markets were closed on Wednesday for Ganesh Chaturthi, and GIFT Nifty indicated the Nifty 50 would open below Tuesday’s close on Thursday.
  • Barclays flagged higher risk to growth as electrical machinery and gems and jewelry face the steepest tariff impact, while it expects India–U.S. trade talks to continue.
  • Analysts highlight near-term pressure with Nifty resistance around 24,850–25,000 and support near 24,670 and 24,500; realty, pharma, banking and metals led declines as FMCG outperformed, and some strategists pointed to ‘tariff‑proof’ ideas such as Eicher Motors, Larsen & Toubro, Avenue Supermarts, Ashok Leyland, Eternal and HCL Technologies.