The key equity indices witnessed moderate losses in afternoon trade as investor sentiment took a hit following the US decision to impose an additional 25% tariff on imports. The Nifty traded below the 24,500 level. Realty shares witnessed selling pressure for the third straight session.
At 14:30 IST, the barometer index, the S&P BSE Sensex, tumbled 332.18 points or 0.43% to 80,200.73. The Nifty 50 index fell 101.45 points or 0.43% to 24,468.65.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 0.49% and the S&P BSE Small-Cap index fell 0.84%.
The market breadth was weak. On the BSE, 1,241 shares rose and 2,712 shares fell. A total of 149 shares were unchanged.
Trump's Tariff:
United States President Donald Trump announced an additional 25% tariff on Indian goods on August 6. This effectively doubles the total import duties to 50%. The decision responds to India’s ongoing purchase of Russian oil, which the U.S. believes undermines its sanctions. The new tariffs will come into effect on August 27.
The move is expected to severely impact key Indian export sectors, including leather, chemicals, footwear, gems and jewellery, textiles, and shrimp.
Buzzing Index:
The Nifty Realty index fell 0.81% to 886.90. The index dropped 2.76% in the three trading sessions.
Raymond (down 2.84%), Brigade Enterprises (down 2.1%), DLF (down 1.83%), Godrej Properties (down 1.68%), Lodha Developers (down 1.61%), Anant Raj (down 1.05%), Sobha (down 0.99%), Phoenix Mills (down 0.59%), Oberoi Realty (down 0.44%) declined.
On the other Prestige Estates Projects Ltd (up 0.5%) edged higher.
Numbers to Track:
The yield on India's 10-year benchmark federal paper shed 0.16% to 6.397 from the previous close of 6.407.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 87.7375 compared with its close of 87.7200 during the previous trading session.
MCX Gold futures for 3 October 2025 settlement rose 0.43% to Rs 101,700.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.18% to 98.06.
The United States 10-year bond yield fell 0.21% to 4.221.
In the commodities market, Brent crude for October 2025 settlement added 14 cents or 0.21% to $67.03 a barrel.
Stocks in Spotlight:
Fortis Healthcare jumped 3.33% after the company reported a 56.83% surge in consolidated net profit to Rs 260.28 crore in Q1 FY26, compared to Rs 165.96 crore in Q1 FY25. Revenue from operations rose 16.55% year-on-year (YoY) to Rs 2,166.72 crore in the quarter ended 30 June 2025.
Transrail Lighting shed 0.85%. The company’s consolidated net profit increased by 105% to Rs 106 crore in Q1 FY26 from Rs 52 crore in Q1 FY25. For the quarter, the company declared revenue of Rs 1,660 crore, a growth of 81% over the corresponding quarter of the previous year.