Sensex Plunges 765 Points On Tariff Worries; Nifty Ends Below 24,400
(RTTNews) - Indian shares fell sharply on Friday amid concerns that steep 50 percent U.S. tariffs on Indian goods may hut the country's manufacture push and slow economic growth.
Moody's Ratings said India's real GDP growth may slow by around 0.3 percentage points from its current forecast of 6.3 percent for the fiscal year ending March 2026.
Reducing Russian oil imports to avoid penalty tariffs could also make it harder for India to secure alternative crude supplies in sufficient quantities, Moody's said.
The ratings agency forecast India's real GDP growth to slow by around 0.3 percentage points from its current forecast of 6.3 percent for the fiscal year ending March 2026.
The benchmark BSE Sensex ended down 765.47 points, or 0.95 percent, at 79,857.79 due to tariff worries and concerns over sustained foreign fund outflows.
The broader NSE Nifty fell 232.85 points, or 0.95 percent, to 24,363.30, marking the sixth straight weekly loss for the index.
The BSE mid-cap and small-cap indexes lost 1.6 percent and 1 percent, respectively.
The market breadth was weak on the BSE, with 2,498 shares falling while 1,529 shares advanced and 146 shares closed unchanged.
Shares of Bharti Airtel tumbled 3.4 percent after 6.7 crore shares of the company changed hands at Rs. 12,563 crore in block deals.
Among other prominent decliners, Tata Steel, HDFC Bank, UltraTech Cement, Asian Paints, Adani Ports, Reliance Industries, Axis Bank, Kotak Mahindra Bank, Mahindra & Mahindra and Tata Motors fell 1-2 percent.
U.S. Dollar Climbs Against Majors
TSX Hovers Near Record High; Materials, Energy Stocks Shine Again
Swiss Market Ends Weak
European Stocks Close On Mixed Note Again
Eurozone Consumer Confidence Weakens More Than Expected In August
U.S. Leading Economic Index Edges Down In Line With Estimates In July
U.S. Existing Home Sales Unexpectedly Rebound In July
