Sensex, Nifty End Slightly Lower As RBI Hits Pause
(RTTNews) - Indian shares ended modestly lower on Wednesday after U.S. President Donald Trump said that he would increase the tariffs charged on Indian imports "very substantially" over the next 24 hours because of India's continued purchases of Russian oil.
Trump also said that tariffs on semiconductor and chip imports would be announced as soon as next week to boost U.S. manufacturing and that planned tariffs on pharmaceuticals imported into the U.S. could eventually reach as high as 250 percent.
Investors also reacted to the Reserve Bank of India's rate pause amid rising inflation risks and tariff worries.
After maintaining the repo rate at 5.50 percent, RBI Governor Sanjay Malhotra said the central bank will continue to monitor macroeconomic conditions on a policy-to-policy basis.
The central bank has projected CPI inflation for FY26 at 3.1 percent and retained its projection for real GDP growth for FY26 at 6.5 percent. The benchmark BSE Sensex moved in a narrow range before ending the session down 166.26 points, or 0.21 percent, at 80,543.99.
The broader NSE Nifty index dropped 75.35 points, or 0.31 percent, to 24,574.20 while the BSE mid-cap and small-cap indexes fell 1 percent and 1.1 percent, respectively.
The market breadth was weak on the BSE, with 2,696 shares declining while 1,354 shares rose and 154 shares closed unchanged.
Among the prominent decliners, TCS, Eternal, HCL Technologies, Infosys, Bajaj Finance, Tech Mahindra and Sun Pharma fell 1-2 percent.
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