Sensex tanks 624 points as US imposes tariffs on India
On Tuesday, the Sensex plunged 624 points to 81,012 and Nifty50 fell by 192 to 24,776 after news broke that the US will impose an additional 25% tariff on Indian goods, set to take effect soon.
The move sparked worries about exports and sent shockwaves through the markets.
Pharma, textiles, and gems hit hard
Most sectors took a hit—Pharma and Healthcare stocks dropped over 1%, with Sun Pharma sliding more than 3%.
Export-heavy industries like textiles and gems also felt the heat.
FMCG was the rare bright spot, thanks to gains from Hindustan Unilever. Infosys (IT) also posted gains.
Experts recommend sticking to large-cap stocks
With investors feeling jittery about more tariff changes (and a key government meeting coming up), experts suggest sticking with fairly valued large-cap stocks for now.
Strong buying by domestic institutions is helping cushion some of the losses.