Stock market today: Benchmark indices Sensex and Nifty ended lower on Thursday, though they outperformed their Asian counterparts after US President Donald Trump imposed tariffs on over 180 nations late Wednesday. Analysts believe that India’s relatively lower tariffs compared to other South Asian nations could work in its favor. As a result, the Sensex dropped 322 points or 0.42%, closing at 76,295, while the Nifty 50 fell 82 points or 0.35%, ending at 23,250.
Among sectors, Nifty IT was the biggest loser, plummeting 4.21%. It was closely followed by Nifty Auto, both of which are expected to be the most affected by Trump’s tariff announcements. On the positive side, pharma stocks saw gains, with Nifty Pharma rising 2.25%, making it the best-performing index of the day. Nifty PSU Bank followed suit, climbing 1.94%.
“The domestic market initially showed signs of recovery but ended with modest losses after the announcement of a relatively lower 26% tariff on US imports. Although the tariff presents short-term challenges, India’s economic resilience and bilateral trade agreement may help mitigate the overall impact,” Vinod Nair, Head of Research, Geojit Investments Limited.