NewKerala.com

Sensex, Nifty Open Lower Amid Fresh US Tariff Threats on India

Indian benchmark indices opened lower on Friday amid concerns over potential 500% US tariffs on Indian goods under the Russia Sanctioning Act. The Nifty Midcap 100 and Smallcap 100 indices posted even stronger losses compared to the main indices. Market analysts are focused on an upcoming US Supreme Court verdict regarding the legality of tariffs imposed during the Trump administration. Asian markets traded mixed overnight, while FIIs were net sellers in the previous session.

Key Points: Sensex, Nifty Fall on US Tariff, Geopolitical Concerns

  • US threatens 500% tariffs on India
  • Midcap & smallcap indices fall sharply
  • All sectoral indices in red except IT & PSU Bank
  • FIIs were net sellers, DIIs net buyers
  • Asian markets trade mixed
2 min read

Sensex, Nifty open lower amid fresh concerns over US tariffs

Indian stock markets open lower as US threatens 500% tariffs on Indian goods. Midcap and smallcap indices see sharper declines.

"market will be focused on the verdict, expected from the US Supreme Court on the legality of Trump tariffs - analysts"

Mumbai, Jan 9

The Indian benchmark indices posted mild losses early on Friday amid rising geopolitical tensions and renewed threats of 500 per cent US tariffs on Indian goods under the provisions of the Russia Sanctioning Act.

As of 9.29 am, Sensex slipped 107 points, or 0.13 per cent to 84,073 and Nifty eased 26 points, or 0.10 per cent to 26,850.

Main broad cap indices posted stronger losses compared to benchmark indices, with the Nifty Midcap 100 down 0.29 per cent, while the Nifty Smallcap 100 lost 0.84 per cent.

ONGC and Bharat Electronics were among top gainers on the Nifty pack. Nifty realty and media were the top losers, down 2.14 per cent and 1.34 per cent, respectively. All sectoral indices were trading in red, except IT and PSU Bank.

Immediate support lies at 25,700-25,750 zone, and resistance placed at 26,150-26,200 zone, market watchers said.

After the sharp correction on Thursday triggered by the possibility of about a 500 per cent tariff on India under the provisions of the Russia Sanctioning Act approved by US President Donald Trump, the market will be focused on the verdict, expected from the US Supreme Court on the legality of Trump tariffs, analysts said.

On Thursday, Nifty extended its losing streak for a fourth consecutive session, falling 263 points to close at 25,876.

Asia-Pacific markets traded mixed in the morning session as investors parsed China's inflation data which accelerated in December to the fastest pace in nearly three years.

In Asian markets, China's Shanghai index gained 0.3 per cent, and Shenzhen added 0.57 per cent, Japan's Nikkei advanced 1.14 per cent, while Hong Kong's Hang Seng Index dipped 0.07 per cent. South Korea's Kospi advanced 0.69 per cent.

The US markets were mostly in the green zone overnight even as Nasdaq lost 0.44 per cent. The S&P 500 gained 0.01 per cent, and the Dow moved up 0.55 per cent.

On January 8, foreign institutional investors (FIIs) sold net equities worth Rs 3,367 crore, while domestic institutional investors (DIIs) were net buyers of equities worth Rs 3,701 crore.

- IANS

Share this article:

Reader Comments

P
Priya S
Smallcap index down 0.84% is worrying for retail investors like me. It feels like the big players (FIIs selling) cause the panic, and we bear the brunt. Time to hold and not panic sell, I guess.
R
Rohit P
Good to see DIIs being net buyers and supporting the market. This shows domestic confidence. The US tariff threat is serious, but our economy is resilient. Might be a buying opportunity in quality stocks.
S
Sarah B
Watching from abroad. The market reaction seems muted given the scale of the potential tariff. Perhaps it's priced in? The Supreme Court verdict will be key. Interesting to see IT and PSU banks holding up.
V
Vikram M
Realty and media down over 1-2%... ouch. This volatility is nerve-wracking for common investors. The government should also focus on boosting domestic demand to reduce over-reliance on exports for certain sectors.
K
Karthik V
While the tariff news is bad, let's not forget the positive: ONGC and BEL are gainers. There are always pockets of strength. We need to diversify our trade partnerships and look at Africa, Middle East more aggressively.
M
Meera T
Respectfully, the constant focus on daily FII/D

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Leave a Comment

Minimum 50 characters 0/50