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Domestic equities are trading under pressure on Thursday, with export-focused stocks facing headwinds
Sensex Today.
Sensex Today: Indian equities opened sharply lower on Thursday, August 28, as investors reacted to the 50% tariffs on Indian exports to the US, which came into effect on Wednesday.
The benchmark Sensex crashed nearly 700 points, or 1 per cent, to hit an intraday low of 80,107.19. The NSE counterpart Nifty 50 also fell about 1 per cent to hit its intraday low of 24,514.35.
The BSE Midcap and Smallcap indices tumbled over 1% each during the session.
The sharp selloff wiped out nearly Rs 4 lakh crore in investor wealth, with the overall market capitalisation of BSE-listed companies slipping to around Rs 445 lakh crore, compared to Rs 449 lakh crore in the previous session.
The fresh duties—among the steepest in Asia—were imposed amid escalating trade tensions between New Delhi and Washington, with the US citing India’s continued purchase of Russian crude oil as a trigger.
Export-linked sectors such as apparel, textiles, auto parts, engineering goods, gems & jewellery, shrimp, and carpets remained in focus as investors assessed the tariff impact.
Global Cues
In contrast, most Asian benchmarks were trading higher, tracking overnight US gains before a late pullback. Japan’s Nikkei rose 0.3%, while South Korea’s benchmark gained 0.3%, leading advances on the MSCI Asia Pacific index.
Meanwhile, US futures slipped in Asian trading after chipmaker Nvidia’s sales outlook missed lofty expectations, hinting at a slowdown in AI-driven growth after years of strong momentum.
On Wednesday, the S&P 500 gained 0.24% and the Nasdaq rose 0.21%, both closing in positive territory.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
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