Market falls by 1% as US tariffs come into effect, Nifty below 24,500 on monthly expiry day

Benchmark indices fell nearly 1% on Thursday after 50% US tariffs on India came into effect as the profit booking continued for a second consecutive session.

At close, Sensex was down 705.97 points or 0.87% at 80,080.57, and the Nifty was down 211.15 points or 0.85% at 24,500.90. The BSE midcap index shed 1% and smallcap index declined 0.9%.

Advertisement

The overall market capitalisation of BSE-listed firms dropped to Rs 445 lakh crore from Rs 449 lakh crore in the previous session.

Among the sectors, barring Nifty Consumer Durables which was up 0.56%, all sectoral indices ended with losses.

Nifty Bank, Financial Services, PSU Bank, Private Bank, Realty, IT, and FMCG, all ended with losses of over a per cent.

Shares of several PSU banks dropped in trade pushing the sectoral index down into the red for the sixth consecutive session.

On Nifty, the top gainers were Titan Company up by 1.06%, Coal India up 0.68%, and Hero MotoCorp up 0.65%.

Further, around 36 stocks ended in the red. The key names were Shriram Finance down by 3.94%, HCL Technologies down 2.85%, and Power Grid Corporation of India down by 2.04%.

Shares of the parent of budget airline IndiGo, InterGlobe Aviation, saw its shares sink over 5% as the Rakesh Gangwal family likely pared its stake via the block deal route.

After Ola Electric Mobility said that all seven S1 Gen 3 scooters had received PLI certification, the company’s shares jumped as much as 15%.

Around 102 stocks hit their 52-week high while 141 stocks touched 52-week lows.

Those hitting high include Authum Investment & Infrastructure Ltd, Eicher Motors Ltd, Maruti Suzuki India Ltd, Nuvoco Vistas Corporation Ltd, FSN E-Commerce Ventures Ltd (Nykaa), TVS Motor Company Ltd, and UNO Minda Ltd.

In contrast, key ones hitting lows were AAVAS Financiers Ltd, AIA Engineering Ltd, Cohance Lifesciences Ltd, Five-Star Business Finance Ltd, HFCL Ltd, Jindal Saw Ltd, Praj Industries Ltd, and REC Ltd.