Weighed down by concerns that higher US tariffs could hurt the Indian economy, both benchmark indices posted another session of steep losses. The Nifty 50 broke its key support level, falling 0.85% to 24,509 points, while the S&P BSE Sensex slipped 0.87% to the 80,080 level.
The broader markets also ended with sharp losses, as the Nifty Midcap 100 and Nifty Smallcap 100 indices dropped over 1.3% each. All major sectoral indices closed lower, barring the Nifty Consumer Durables index. Among the worst hit were Nifty IT and Nifty Realty, which declined 1.60% and 1.50%, respectively.
The 50% tariffs on Indian goods imposed by the Donald Trump administration came into effect on Wednesday, following a notice issued by the US Customs and Border Protection (CBP).
According to the notice, the additional duties are being levied to implement the President’s…
