US tariffs on Indian goods double to 50%: Sensex falls
US tariffs on Indian goods just jumped from 25% to 50% as of August 27, 2024, sending Indian stock markets lower this morning.
Sectors like textiles and pharma are expected to feel the pinch as trade tensions rise.
US tariffs jump due to India's Russian oil purchases
The US is ramping up pressure because India keeps buying Russian oil despite the ongoing Russia-Ukraine war.
With about $80 billion in exports to the US at stake, these higher tariffs mean more costs and less profit for key industries—so investors are rethinking their bets on export-heavy stocks.
Foreign investors sold off ₹2,466 crore in shares yesterday
Foreign investors sold off ₹2,466 crore in shares yesterday, but domestic institutions stepped in with ₹3,177 crore in buys.
Dr. VK Vijayakumar from Geojit Investments says strong local liquidity is helping steady things for now.
His advice? Stick to fairly priced largecap stocks while tariff and geopolitical uncertainty lingers.