Stock market: Sensex plunges 500 points, Nifty down by 0.6%, oil stocks worst hit

All the sectors opened in red as investors lost ₹5 lakh crore in 15 minutes. The oil stocks were worst hit, with IOCL seeing a dip of 3,12%.

Updated on: Jul 31, 2025, 10:06:09 IST

By Majid Alam

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Stock market today: Indian stock markets plunged on Thursday morning, hours after US President Donald Trump announced 25% tariff on imports from India, along with an unspecified penalty.

Indian stock markets plunged sharply on Thursday morning following US tariff announcement. (REUTERS File)

The Sensex fell around 500 points (-0.67%) in the early trade, settling around 80,975. Meanwhile, Nifty 50 lost over 150 points (-0.60%) to settle at 24,704.

All the sectors remained in red in the early trade as investors lost ₹5 lakh crore in 15 minutes, according to The Economic Times.

Also read: Nifty 50, Sensex today: What to expect from the Indian stock market on Thursday?

The oil stocks were worst hit, with IOCL seeing a dip of 3,12 per cent and BPCL falling by 2.42 per cent. Reliance Industries, Tata Motors, Mahindra & Mahindra, Bharti Airtel, Titan and State Bank of India were among the biggest laggards from the Sensex stocks.

The latest plunge comes hours after US President Donald Trump announced 25% tariff on Indian imports.

The Foreign Institutional Investors (FIIs) offloaded equities worth ₹850.04 crore on Wednesday, according to exchange data.

As per experts, sectors including textiles, pharmaceuticals, and automotive components, which are among the top exports to the US, are set to be impacted.

ABOUT THE AUTHOR
Majid Alam
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.Read More

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