Trump Tariffs Live: Stock markets see sell-off
According to Sudeep Shah, Head – Technical Research and Derivatives at SBI Securities, Indian equity benchmarks witnessed a sharp sell-off after the Trump administration formally issued a notice to impose an additional 25% tariff on Indian imports, with the punitive duties scheduled to take effect from August 27. The announcement triggered a wave of risk-off sentiment across domestic markets, leading to broad-based weakness.
The Nifty 50 index closed near the 24700 mark, registering a decline of over 1%, and formed a large bearish candle on the daily chart—signalling heightened caution among market participants. The sell-off was widespread, with most sectors and broader indices coming under pressure.
Among the Nifty constituents, Eicher Motors and Hindustan Unilever emerged as the top gainers, bucking the overall trend. On the flip side, Shriram Finance and Sun Pharma were among the worst performers, dragging the index lower.
Sectorally, the pain was visible across the board. Barring Nifty FMCG, all other sectoral indices ended in the red. Nifty Realty, Nifty PSU Bank, and Nifty Pharma were the biggest laggards, reflecting the extent of the bearish sentiment.
The broader markets underperformed the headline index, with Nifty Midcap 100 and Nifty Smallcap 100 declining by 1.62% and 2.03% respectively. The advance-decline ratio was heavily skewed in favour of the bears, highlighting the breadth of the correction. Out of the Nifty 500 universe, only 62 stocks managed to close in the green, underscoring the widespread nature of the sell-off.