Stock market today: Nifty50 opens below 24,850; BSE Sensex down over 400 points as Trump administration notifies 50% tariffs on India
Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, dropped in opening trade on Tuesday as US notified 50% tariffs on India effective tomorrow. While Nifty50 went below 24,850, BSE Sensex was down over 400 points. At 9:20 AM, Nifty50 was trading at 24,834.30, down 133 points or 0.53%. BSE Sensex was at 81,188.52, down 447 points or 0.55%.The Donald Trump administration has notified that the additional 25% tariffs on India will be effective from August 27. Analysts predict that sector-specific movements will likely show better results, suggesting the need to review and adjust trading strategies.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “Despite sluggish earnings growth and headwinds like high tariffs, the market continues to be resilient. Resilient market co-existing with tepid earnings growth has made India the most expensive market in the world. Consequently FIIs have been sustained sellers; but massive DII buying totally eclipsing FII selling is supporting the market even amidst strong headwinds”.“Since the principal reason for the market’s resilience is liquidity and liquidity flows are likely to sustain, the market is unlikely to correct significantly and the elevated valuations may continue. As a measure of abundant caution, investors may avoid unjustifiably expensive smallcaps and focus on largecaps which are reasonably fairly valued.”US stocks closed lower on Monday as investors evaluated interest rate prospects and anticipated AI chipmaker Nvidia’s results this week, following Friday’s session where the Dow Jones Industrial Average reached a record closing high.Gold reached a two-week peak on Tuesday as the US dollar weakened following President Donald Trump’s decision to dismiss Federal Reserve Governor Lisa Cook from the board.The US dollar declined during early Asian trading on Tuesday after President Donald Trump announced the removal of Federal Reserve Governor Lisa Cook, citing allegations of mortgage fraud.Oil prices declined on Tuesday following a nearly 2% increase in the previous session, with traders monitoring the Russia-Ukraine situation for potential effects on regional fuel supply.Foreign portfolio investors sold shares worth Rs 2,466 crore on Monday, whilst domestic institutional investors purchased Rs 3177 crore.(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)
