Tariff Woes Hit Dalal Street: Sensex Sinks Over 600 Points, Nifty Below 24,800

Mumbai, August 26 (TNA) Indian equity markets plunged on Tuesday as investor sentiment soured ahead of newly announced US tariffs on Indian goods, which take effect on August 27. The BSE Sensex dropped more than 630 points, trading near 81,093, while the NSE Nifty50 fell below the 24,800 mark, with both indices down around 0.66%.

The sharp fall comes amid global market weakness as the Trump administration confirmed an additional 25% tariff on key Indian exports, including pharmaceuticals, metals, and textiles. Selling pressure was further heightened after political tensions abroad, including the US president’s move to fire a Federal Reserve governor and threats of further technology export controls.

Sectorally, pharma, realty, metal, and PSU bank indices led the decline, while FMCG stocks alone resisted the selloff. In the broader markets, both the Nifty Midcap and Smallcap indices were down nearly 1% each. Among individual stocks, Sun Pharma, Tata Steel, and ICICI Bank were major laggards, while Hindustan Unilever and Hero MotoCorp were among the few gainers.