Purbalee Dutta 
Concerns over higher US tariffs impacting the Indian economy led to another day of sharp declines for both benchmark indices. The Nifty 50 fell 0.85% to 24,509, breaking a crucial support level, while the S&P BSE Sensex dropped 0.87% to around 80,080. Broader markets also suffered, with the Nifty Midcap 100 and Nifty Smallcap 100 tumbling over 1.3% each. Most sector indices closed lower except for the Nifty Consumer Durables, with Nifty IT and Nifty Realty among the hardest hit, declining 1.60% and 1.50% respectively.
The 50% tariffs on Indian goods, imposed by the Trump administration, came into effect on Wednesday through a notice by US Customs and Border Protection, implementing Executive Order 14329 targeting Russia-related concerns. Trump justified the tariffs citing the US trade deficit with India and India’s continued purchases of Russian oil and military equipment.
These duties apply to all Indian products entering the US market, with nearly 70% of India’s exports, worth $60.85 billion, affected. Analysts warn the tariffs could have a significant long-term impact on the Indian economy.
About The Author
