Sensex, Nifty Tad Lower Dragged By IT Stocks
(RTTNews) - Indian shares opened a tad lower on Wednesday after U.S. President Donald Trump offered no exceptions to his Aug. 1 tariff start date and announced a 50 percent tariff on copper imports, expanding trade measures already in place for steel and aluminum.
He also hinted at a potential 200 percent tariff on pharmaceuticals, marking a new phase in his aggressive trade policy.
The benchmark S&P/BSE Sensex was down 127 points, or 0.2 percent, at 83.586 in early trade, while the broader NSE Nifty index dipped 30 points to 25,494.
Infosys, ICICI Bank, Tata Steel and HCL Technologies all fell around 1 percent while Hindustan Unilever and Asian Paints both rose about 1 percent.
Pharma stocks such as Lupin and Biocon were up around 2 percent each.
Union Bank of India tumbled 4.5 percent after its Q1 business update.
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