“Markets Tumble: Sensex Falls 600 Points, Nifty Slides 180 on US Tariffs”

Indian Markets Fall Sharply as US Tariffs Hit Local Goods

Indian shares opened lower on Thursday following the imposition of an additional 25% US tariff on Indian imports, prompting concerns over near-term market pressure.

By 9:17 am, the Nifty 50 was down about 180 points at 24,583, while the BSE Sensex fell over 600 points to 80,315. Fourteen of the 16 major sectors recorded losses, with small-cap and mid-cap indices declining 0.2% and 0.1%, respectively.

Among individual stocks, HDFC Bank slipped 1.5%, ICICI Bank and Reliance Industries fell about 0.9% each, and Interglobe Aviation dropped 4.3% amid reports of a discounted stake sale. Hero MotoCorp bucked the trend, rising 1.5% after a Jefferies upgrade.

Markets had already fallen about 1% on Tuesday—the sharpest single-day drop in three months—before the tariffs took effect. Analysts cite the new duties, totaling 50% due to India’s purchase of Russian oil, as a significant headwind.

“India’s integration into global value chains is at stake,” said Vikram Kasat, head of advisory at PL Capital. “Without a trade deal with the US, the country risks reduced exports, slower investment, and fewer jobs.”

Foreign portfolio investors have sold Indian shares worth $2.66 billion in August so far, the highest outflow since February.

Amr Abdel Khalek, emerging markets strategist at MRB Partners, added, “The rift in U.S.-India relations and demanding valuations mean Indian stocks are no longer outperforming most emerging market peers.”