Equity benchmark indices Sensex and Nifty continued to decline on Friday following US President Donald Trump's tariff announcement ahead of the August 1 deadline.
The benchmark indices opened in red on Friday over Trump's tariff announcement. (Reuters)
The 30-share Sensex declined by 210 points to reach 80,975, while the Nifty 50 fell by 50 points to settle at 24,718.
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Automobile, oil and banks stocks, including Mahindra, Tata Steel, Tata Motors, Infosys and Tech Mahindra were among the top losers. On the other hand, stocks like Hindustan Unilever, Asian Paints and ITC opened in green.
Sun Pharma declined by over 5 per cent after the firm reported a 20% year-on-year decline in consolidated net profit in the first quarter ending in June, according to PTI.
12 out of 16 major sectors declined in the early hours of trade while the broader smallcaps and midcaps traded flat. Foreign Institutional Investors (FIIs) offloaded equities worth ₹5,588 crore on Thursday, according to exchange data.
The downward trend continued as Trump announced new tariffs of up to 41% on goods imported from dozens of countries on Thursday evening. The move resulted in Asian markets witnessing a fall due to the new trade deals, that will be implemented from August 7.
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South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng were trading lower.
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South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng were trading lower.
Majid Alam is a Chief Content Producer working at Hindustan Times, based in New Delhi. He currently heads shifts at online desk and manages homepage apart from writing, editing and curating articles. With over six years of experience in journalism, Majid has navigated national, politics and international news. His work primarily focuses on the politics of the Hindi heartland, government policies, and South Asia. He also writes on US and Europe’s policies vis-à-vis India. Before joining Hindustan Times, Majid worked at ABP LIVE as the Chief Copy Editor and at News18, where he managed the World and Explainers sections. His articles have featured in Dialogue Earth, The Quint, BMJ, The Diplomat, and Outlook India. Majid has a keen interest in the use of data for storytelling. Majid holds a Masters in Convergent Journalism from Jamia Millia Islamia. He was awarded the Erasmus+ scholarship to study International Affairs at Sciences Po, Paris in 2020. He is also part of the OCEANS Network, an alumni network of Erasmus+ exchange scholars. He is currently serving as the National Representative (India) at the OCEANS Network. Apart from journalism, Majid has a flair for academic writing and loves to teach. He has published a book chapter: 'Bombay Cinema and Postmodernism' in the book: 'Handbook of Research on Social and Cultural Dynamics in Indian Cinema.' He was also part of the OCEANS Network delegation to Hanoi National University of Education in Vietnam in 2025. He has also given guest lecture in digital journalism at AJK MCRC, Jamia Millia Islamia.
