28.08.202505:03:15UTC+00Sensex Slips on US Tariff Jitters, Hits Two-Week Low

Indian equities experienced a dip of 433 points, equivalent to 0.5%, reaching 80,353 in early trading on Thursday, marking their lowest point in a fortnight as markets reopened after Wednesday's local holiday. This decline was fueled by trader concerns over the economic consequences of newly imposed US tariffs. Washington has introduced an additional 25% duty on Indian imports, reacting to India's ongoing consumption of Russian oil, thus elevating the overall tariff level to 50%. The BSE Sensex witnessed a consecutive decline, following a nearly 1% fall on Tuesday, which was its steepest one-day drop in the last three months. Market participants are also closely monitoring the imminent release of the Q2 GDP data on Friday, anticipating a slowdown in growth to 6.6%, compared to 7.4% in the preceding quarter. Despite this, positive sentiment surrounding upcoming GST reform measures helped cushion the impact. Almost every sector was in negative territory, with notable declines in the technology, healthcare, and pharmaceuticals sectors, which fell between 1.1% to 1.4%. Prominent laggards included HCL Tech (-2.5%), Sun Pharmaceuticals (-2.0%), TCS (-1.5%), and Tata Motors (-1.5%).