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On Friday, the equity benchmark indices Sensex and Nifty experienced declines for the third consecutive day as investors faced pressure from high US tariffs and persistent foreign fund outflows. The BSE Sensex, comprising 30 shares, fell by 270.92 points, or 0.34 percent, closing at 79,809.65. During the trading session, it saw a decline of 338.81 points, or 0.42 percent, reaching 79,741.76. The NSE Nifty, with 50 shares, also dropped by 74.05 points, or 0.30 percent, to settle at 24,426.85. The US has enforced a significant 50 percent tariff on Indian goods entering the country starting August 27, which is anticipated to negatively affect exports in sectors like textiles, leather, footwear, and shrimp.
Siddhartha Khemka, Head of Research at Wealth Management, Motilal Oswal Financial Services Ltd, noted that the Nifty’s slight loss of 74 points was driven by ongoing worries regarding the steep US tariffs on Indian exports. Among Sensex companies, Mahindra & Mahindra saw a decline of 2.96 percent, followed by Reliance Industries at 2.21 percent. Other laggards included Infosys, NTPC, Tata Motors, and Tech Mahindra, while ITC, Bharat Electronics, Trent, and Larsen & Toubro were among the notable gainers.