rump Tariff Effect: Sensex Drops Over 300 Points, Nifty Near 23,200 as US Imposes Reciprocal Tariffs
The Indian stock market faced a sharp decline on Thursday as the Sensex plunged over 300 points and the Nifty slipped close to 23,200 following the US President’s announcement of new reciprocal tariffs. The market reacted negatively to the 26% tariff on Indian imports, imposed as part of the latest trade measures by Donald Trump.
Impact of US Tariffs on Indian Markets
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Sensex Drops: The BSE Sensex fell over 300 points, reflecting investor concerns over global trade tensions.
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Nifty Nears 23,200: The NSE Nifty also saw significant losses as market sentiment weakened.
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Sectoral Pressure: Stocks in automobile, textile, and manufacturing sectors were hit hardest due to their export dependence.
Comparative Tariffs Across Asia
Trump’s 26% tariff on Indian imports is lower than those on Thailand (36%) and Indonesia (32%), but analysts warn that this move could still impact trade relations and business confidence.
What’s Next?
Market experts believe that the RBI’s policy stance and corporate earnings will play a crucial role in stabilizing the markets. However, continued trade tensions with the US may lead to further volatility in the coming weeks.
