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Sensex, Nifty End Lower On Tariff Concerns
(RTTNews) - Indian shares ended Thursday's session lower as U.S. President Donald Trump intensified his tariff war strategy.
That said, a weaker dollar, falling oil prices and lower bond yields helped limit overall losses to extent.
After releasing tariff warning letters to seven additional countries on Wednesday, U.S. President Donald Trump raised the tariffs on Brazilian imports to 50 percent from 10 percent, effective August 1.
He also sent letters to six additional countries—Algeria, Iraq, Libya, Brunei, Moldova, and the Philippines—with fresh import duties ranging from 20-30 percent.
The benchmark S&P/BSE Sensex ended the session down 345.80 points, or 0.41 percent, at 83,190.28 ahead of TCS' Q1 results announcement later in the day.
The broader NSE Nifty index dropped 120.85 points, or 0.47 percent, to 25,355.25 and the BSE mid-cap index eased 0.3 percent while the small-cap index settled 0.1 percent higher.
The market breadth was weak on the BSE, with 2,053 shares declining while 1,966 shares advanced and 142 shares closed unchanged.
Bharti Airtel fell 2.6 percent and Asian Paints declined 1.9 percent while Tech Mahindra, BEL and Infosys all ended down around 1 percent.
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