MUMBAI: India’s equity benchmarks fell for a second straight session on Thursday, pressured by mounting concerns about the impact of US tariffs on Indian goods, a day after punitive duties went into effect.
The Nifty 50 lost 0.85 percent to 24,500.9 points and the BSE Sensex shed 0.87 percent to 80,080.57. They have dropped about 2 percent in two sessions, with markets closed on Wednesday.
Small-caps and mid-caps declined 1.5 percent and 1.3 percent, respectively, while fifteen of 16 major sectors logged losses.
On Wednesday, the United States enforced an additional 25 percent tariff on Indian goods, including garments, footwear and jewellery, taking total duties as high as 50 percent.
Exporter groups estimate that nearly 55 percent of India’s $87 billion in merchandise shipments to the US could be affected, while benefiting rivals including Vietnam, Bangladesh and China.