Mumbai: On Tuesday, the Indian stock market saw a sharp fall as the BSE Sensex crashed 849.37 points (1.04 percent) to settle at 80,786.54, slipping below the crucial 81,000 level. During the day, it had even dropped by nearly 950 points to hit an intraday low of 80,685.98. The NSE Nifty also dropped 255.70 points (1.02 percent) to end at 24,712.05, with an intraday low of 24,689.60.
US Tariff Shock Triggers Panic
The fall came after the United States issued a draft notification announcing the implementation of an additional 25 percent tariff on Indian imports starting August 27, 2025. This move was part of a broader strategy linked to tensions with Russia but has dragged India into its scope. The announcement raised fears of major damage to India’s export sectors like textiles, gems and jewellery, and leather.
Top Losers and Gainers
Among the major losers in the Sensex pack were Sun Pharma, Tata Steel, Reliance Industries, Bajaj Finance, Mahindra & Mahindra, and Axis Bank. However, a few stocks stayed in the green including Hindustan Unilever, Maruti Suzuki, ITC, TCS, and UltraTech Cement.
Weak Global Cues and FII Selling Add Pressure
Global markets were also weak. Major Asian indices like Hang Seng, Nikkei, Kospi, and Shanghai Composite closed lower. European markets were also trading in the red. On Monday, US markets ended lower as well.
Adding to the pressure, Foreign Institutional Investors (FIIs) sold equities worth Rs 2,466.24 crore on Monday.
Meanwhile, Brent crude oil fell 1.48 percent to $67.78 per barrel, offering a small cushion but not enough to ease overall market fears.
