Stock market today: BSE Sensex ends over 300 points down; Nifty50 at 23,250 as Trump imposes 27% reciprocal tariffs on India

Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, ended in red on Thursday after US President Donald Trump’s reciprocal tariffs announcement. The BSE Sensex dropped 322.08 points (0.42 per cent) to end at 76,295.36, whilst the Nifty decreased by 82.25 points (0.35 per cent), concluding at 23,250.10 points.
The top BSE Sensex gainers were Power Grid, Sun Pharma, Ultratech Chemical, NTPC, and Asian Paints. The top losers were TCS, Tech Mahindra, HCL Tech, Infosys, and Tata Motors.
The rupee recovered from early losses, closing 22 paise higher at 85.30 (provisional) against the US dollar on Thursday, as the American currency weakened against major currencies following President Donald Trump's implementation of reciprocal tariffs on approximately 60 nations.
The United States imposed 27 per cent reciprocal tariffs on India, citing high import duties on American products.
Analysts indicate that India maintains a stronger position compared to other affected competitors.
The US tariffs are anticipated to affect certain Indian export sectors, though experts note India's advantageous position compared to competitors facing higher levies: Bangladesh (37 per cent), China (54 per cent), Vietnam (46 per cent) and Thailand (36 per cent).
According to Thursday's official statement, the Department of Commerce is analysing the impact of US reciprocal tariffs on India whilst consulting with stakeholders, including domestic industry and exporters for their input.
The commerce ministry is evaluating potential opportunities arising from this new US trade policy development. Additionally, Indian and US trade representatives continue discussions towards finalising a beneficial, multi-sectoral Bilateral Trade Agreement (BTA).