Sensex, Nifty Decline On Tariff Concerns
(RTTNews) - Indian shares were subdued on Tuesday after U.S. President Donald Trump substantially raised tariffs on steel and aluminum imports to the U.S. to a flat 25 percent "without exceptions or exemptions".
The benchmark S&P/BSE Sensex was down 132 points, or 0.2 percent, at 77,179 in early trade while the broader NSE Nifty index dropped 42 points, or 0.2 percent, to 23,339.
Eicher Motors plunged 5.4 percent on reporting weaker-than-expected quarterly earnings.
Kotak Mahindra Bank, Power Grid Corp, Coal India and Apollo Hospitals Enterprise fell 1-3 percent.
ONGC dropped half a percent after it tied up with British oil major BP for projects in India and abroad.
Adani Enterprises was up nearly 4 percent and Adani Ports added 1 percent. The Group has tied up with U.S.-based Mayo Clinic Global Consulting to ramp up its budding healthcare business by setting up two health campuses in Mumbai and Ahmedabad.
Grasim Industries rallied 2 percent despite reporting a 40 percent fall in its Q3 net profit.
Nykaa gained 1.7 percent after Q3 profit surged 61 percent year-on-year.
Bata India jumped 1.1 percent on reporting a marginal growth in its quarterly net profit.
Ashoka Buildcon added 2 percent after Q3 profit grew 62 percent from last year. Hindalo and Infosys were up around 1 percent each.
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