US tariff derailed the market, Sensex closed down by 706 points, Nifty also slipped

US Tariff  Derailed The Market: The domestic stock market on Thursday received a severe shock from the 50 percent US tariff imposed on India. The stock market closed with a huge decline. The BSE Sensex closed at 80,080.57 with a huge decline of 705.97 points at the end of trading. Similarly, NSE's Nifty also fell 211.15 points. Almost all sectoral indices closed in red in today's trade. Consumer durables was the only sector that closed in the green. While banking, IT, realty, FMCG, and telecom sectors declined up to 1%.

Biggest Losers Gainer Stocks

Amid a sharp decline in the stock market, the biggest losers (loss-making stocks) on Nifty included Shriram Finance, HCL Technologies, TCS, Power Grid Corporation and Infosys. At the same time, some select stocks showed strength, including Titan Company, L&T, Coal India, Asian Paints and Hero MotoCorp.

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What did the expert say?

Vinod Nair, Head of Research, Geojit Investments Limited, said that pessimism prevailed after the imposition of tariffs on Indian goods, which affected investor sentiment, causing domestic stock markets to close with a decline. Although the exemption in cotton import duty briefly raised expectations of policy support to counter tariff effects, leading to a short-term intra-day recovery, the mood of investors remained fragile, with largecap stocks falling and mid- and smallcap stocks underperforming amid risk-off sentiment.

Rupee rises 6 paise to close at 87.63

The rupee on Thursday closed 6 paise higher at 87.63 (provisional) against the US dollar on the back of a weaker dollar and fall in crude oil prices. However, according to forex traders, the local currency's gains were limited due to concerns over additional US tariffs on Indian products that kicked in on Wednesday and a drop in domestic stock markets. Trump imposed of 50 per cent tariff on Indian exports to the US.  At the interbank foreign exchange market, the rupee opened at 87.56 against the US dollar and traded in a range of 87.53-87.68 during the day.

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