Sensex, Nifty Open Lower As Trump's New Tariffs Go Into Effect
(RTTNews) - Indian shares opened slightly lower on Wednesday as China and the United States moved towards an all-out trade war.
The White House announced that a sweeping 104 percent tariff imports from China has gone into effect, deepening the economic standoff between Washington and Beijing.
U.S. President Donald Trump's "reciprocal tariffs" on all other countries are also set to take effect today.
The benchmark S&P/BSE Sensex was down 367 points, or half a percent, at 73,858 while the broader NSE Nifty index was down 147 points, or 0.7 percent, at 22,388.
Technology stocks led losses, with TCS, HCL Technologies, Infosys and Tech Mahindra falling 2-4 percent.
Power Grid Corp outperformed with a 3 percent gain while Asian Paints, Mahindra & Mahindra, Hindustan Unilever, Nestle India and ITC all were up around 1 percent.
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