Sensex Crashes Over 600 Points, Nifty Below 24,670 After US Tariffs on Indian Imports

Mumbai, July 31 – The Indian stock markets started Thursday morning in red with the benchmark indices (Sensex and Nifty) extending their losses after the US President’s 25% tariff announcement on all Indian imports starting from August 1. The crash was inevitable after Trump’s declaration, which included penalties on India’s close military and crude oil purchases from Russia, both recent and historical.

Indian Market Update at 10:20 AM

• BSE Sensex tumbled 608.33 points or 0.75% to 80,873.53
• NSE Nifty 50 dropped 185.60 points or 0.75% to 24,669.45

Tariff Shock Dampens Investor Sentiment

The US move is being interpreted as a strategic manoeuvre to extract trade concessions from India, just days before a scheduled negotiation round. The additional penalty for defence and energy trade with Russia has further intensified concerns over diplomatic and trade relations.

Top Lagging and Gaining Stocks

Selling was widespread among Sensex heavyweights, with Reliance Industries, Tata Motors, Mahindra & Mahindra, Bharti Airtel, Titan, and State Bank of India leading the losses.

In contrast, defensives like Eternal, Hindustan Unilever, ITC, and Power Grid were seen trading in positive territory, offering some cushion to the indices.

FII Turnover Shows Continued Selling Pressure

As per the latest exchange data for July 30, 2025:

• Foreign Institutional Investors (FIIs) were net sellers of ₹850.04 crore, with a buy value of ₹11,888.17 crore and sale value of ₹12,738.21 crore.
• Meanwhile, Domestic Institutional Investors (DIIs) were net buyers of ₹1,829.11 crore, with a buy value of ₹12,890.19 crore and sale value of ₹11,061.08 crore.

While DII buying did provide some cushioning, given the escalation of global tensions, this may not be adequate.

Global Market Trends

Asian markets showed a mixed trend. Kospi, Shanghai Composite, and Hang Seng were in the red, while Nikkei 225 traded in positive territory. US markets had ended mostly lower on Wednesday, adding to the weak global cues.

Brent Crude Prices

Brent crude slipped 0.19% to $73.10 per barrel, reflecting slight softness in global oil prices amid the geopolitical backdrop.

Recap of Previous Session

On Wednesday, the Sensex had closed 143.91 points higher at 81,481.86, while the Nifty had ended 33.95 points higher at 24,855.05.

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