Indian benchmark indices, the Sensex and Nifty 50, closed sharply lower on Thursday, August 28, marking their second straight session of losses amid growing concerns over the potential economic impact of the proposed 50 per cent US tariffs on Indian exports. Analysts warn that if such tariffs remain in place for an extended period, they could shave off up to 1 per cent from India’s GDP growth.
The Sensex ended the day down by 706 points, or 0.87 per cent, settling at 80,080.57. Similarly, the Nifty 50 dropped 211 points, or 0.85 per cent, closing at 24,500.90. Broader market indices also faced the heat, with the BSE Midcap index falling 1.09 per cent and the Smallcap index declining by 0.96 per cent.
The market sentiment remains cautious as investors weigh the potential long-term economic implications of the tariff standoff with the United States, especially if it escalates or expands to more sectors.
