Market assesses broader impact of Trump’s tariffs and penalties

The stock market ended in the red on Thursday, with the Nifty 50 closing below the 24,800 mark. Despite a brief midday recovery, the market failed to hold gains as investors assessed the broader impact of Trump’s tariffs and penalties.

At close, the Sensex was down 296.28 points, or 0.36%, at 81,185.58, and the Nifty fell 86.70 points, or 0.35%, to 24,768.35. The BSE Midcap and Smallcap indices shed 0.7% each, underperforming the main indices.

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The overall market capitalisation of BSE-listed firms dropped to nearly ₹450 lakh crore from more than ₹452 lakh crore in the previous session.

Nearly 131 stocks hit their 52-week high for the day, while 91 stocks touched 52-week lows.

Those on the highs included Bosch Ltd, Coromandel International Ltd, EID Parry India Ltd, Fortis Healthcare Ltd, HEG Ltd, ICICI Bank Ltd, Maharashtra Scooters Ltd, Navin Fluorine International Ltd, Nuvoco Vistas Corporation Ltd, The Ramco Cements Ltd, Schneider Electric Infrastructure Ltd, Shyam Metalics and Energy Ltd, and Sumitomo Chemical India Ltd.

The notable mentions on the lows were Five-Star Business Finance Ltd, Tata Consultancy Services Ltd (TCS), Easy Trip Planners Ltd, Five-Star Business Finance Ltd, Spicejet Ltd, and PDS Ltd.

Among sectors, FMCG rose 1.4%, while IT, metal, oil & gas, PSU Bank, pharma, realty, and telecom declined 0.5-1.8%.

Shares of Jio Financial Services rallied over 3% after the board approved the plan to raise Rs 15,825 crore.

Shares of Adani Group tanked as much as 4% after the company reported a 50% decline in net profit.

Shares of textile companies, including those in the garments and apparel segment, slipped up to 9 percent on July 31 after US President Donald Trump announced a 25 percent tariff on imports from India.

For the month of July, both the Sensex and Nifty lost nearly 3% each.

Notably, the US Federal Reserve’s Federal Open Market Committee (FOMC) has decided to keep interest rates unchanged at 4.25% to 4.5%.