Sensex, Nifty Open Lower On Tariff Concerns
(RTTNews) - Indian shares opened a tad lower on Thursday after U.S. President Donald Trump signed an executive order imposing an additional 25 percent tariff on India as a "penalty" in response to its continued purchase of Russian oil.
While the initial 25 percent duty comes into effect today, the additional U.S. import tax will take effect in 21 days.
The overall impact on GDP is expected to be around 30-40 bps if these tariffs are sustained for a year.
The benchmark BSE Sensex was down 230 points, or 0.3 percent, at 80,307 in early trade, while the broader NSE Nifty index slid 67 points, or 0.3 percent, to 24,508.
Among the prominent decliners, Eternal, Adani Ports, Tata Motors and Kotak Mahindra Bank fell over 1 percent each.
Bharat Forge fell nearly 2 percent after warning that FY26 will be a challenging period.
Paras Defense and Space Technologies gained nearly 2 percent after signing pact with a German company for working together on projects related to Defense & Space in the Indian region.
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