MUMBAI, Maharashtra — Indian equity markets recorded their steepest single-day decline in a month on Thursday as benchmark indices extended losses for a fourth consecutive session, pressured by growing concerns over rising India–U.S. trade tensions.
Investor sentiment weakened after reports suggested that the administration of U.S. President Donald Trump may consider imposing tariffs of up to 500 percent on certain Indian goods. The prospect of such aggressive trade measures sparked broad-based selling across sectors and fueled risk aversion among investors.
The Sensex closed at 84,180.96, down 780.18 points, or 0.92 percent, while the Nifty settled at 25,876.85, falling 263.9 points, or 1.01 percent.
“A sustained close below 25,900 increases the probability of further downside toward the 25,800–25,700 zone, while a recovery above 26,000 is essential to stabilise near-term sentiment,” an analyst said.
“Despite the current correction, the broader weekly and monthly trend structure remains positive, although short-term corrective pressure may persist if key supports fail to hold,” the analyst added.
Among Sensex constituents, TCS, Tech Mahindra, Larsen & Toubro, Reliance Industries, and Tata Steel were the top losers. Eternal, ICICI Bank, Bajaj Finance, and BEL were the only stocks to end the session in positive territory.
Selling pressure was even more pronounced in the broader market, with mid- and small-cap stocks seeing sharp declines. The Nifty Midcap 100 and Nifty Smallcap 100 indices both fell nearly 2 percent.
Sectoral indices ended broadly lower, with metal stocks hit hardest as the Nifty Metal index dropped more than 3 percent. Oil and gas stocks also remained under pressure, with the Nifty Oil and Gas index declining about 2.8 percent.
PSU banking and IT stocks were among the other major laggards, each falling around 2 percent.
Market participants said sentiment remains cautious as investors weigh global trade uncertainties and assess the potential impact of higher tariffs on India’s export-oriented sectors. (Source: IANS)
