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Domestic equities are trading under pressure on Thursday, with export-focused stocks facing headwinds
Sensex Today.
Sensex Today: Indian equities were trading lower on Thursday, August 28, as investors reacted to the 50% tariffs on Indian exports to the US, which came into effect on Wednesday.
At its day’s low, the Sensex plunged nearly 700 points, or 1%, to 80,107.19, while the Nifty50 slipped about 1% to 24,514.35. By 10 am, the Sensex was down 481 points (0.60%) at 80,305 and the Nifty50 fell 127 points (0.51%) to 24,585.
HCL Tech, HDFC Bank, Infosys, Power Grid, UltraTech Cement, ICICI Bank, TCS, Tata Motors, Tech Mahindra, BEL, Sun Pharma, Reliance Industries, and NTPC led the losses on the Sensex. On the flip side, Eicher Motors, Asian Paints, Larsen & Toubro, Adani Ports, and Titan managed to post gains.
The selloff followed the US decision to impose steep 50% tariffs on Indian exports—among the highest in Asia—citing New Delhi’s continued purchases of Russian crude oil. Export-linked sectors such as apparel, textiles, auto parts, engineering goods, gems & jewellery, shrimp, and carpets were in focus.
In the broader markets, both the Nifty MidCap and Nifty SmallCap indices declined 0.83% each, while India VIX rose 3%. Sectorally, Nifty Bank and Nifty Metal slipped 0.9% each, Nifty IT and Realty fell over 1% each, and barring Consumer Durables, all sectoral indices ended in the red.
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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