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Sensex, Nifty Decline As Trump Slaps 25% Tariffs On India
(RTTNews) - Indian shares were notably lower on Thursday after the United States slapped a 25 percent tariff on India, effective August 1, and threatened further penalty on Russian oil and BRICS.
Analysts said the move will hurt a spate of sectors — from makers of electronics and generic drugs to jewelry and auto component firms.
The benchmark BSE Sensex was down 539 points, or 0.7 percent, at 80,942 in early trade while the broader NSE Nifty index fell 162 points, or 0.7 percent, to 24,693.
Among the prominent decliners, Tech Mahindra, TCS, Titan Company, HCL Technologies, Maruti Suzuki India, ICICI Bank, Infosys, Bajaj Finance, Reliance Industries and Bharti Airtel fell 1-2 percent.
Indraprastha Gas rose 1.4 percent after reporting a marginal rise in Q1 profit. Tata Steel was little changed despite quarterly profit climbing 116 percent year-on-year.
Kaynes Technology India gained 1 percent on reporting a 47 percent rise in quarterly profit.
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