Indian equity markets opened sharply lower on Friday following the impact of recent US trade policy decisions, triggering broad-based selling on Dalal Street. The BSE Sensex opened about 700 points lower at 75,691.32, while the NSE Nifty 50 declined 169.15 points to around 23,700.45 in early trade.
Selling pressure remained widespread during the opening session, with a large number of stocks trading in negative territory. The decline followed a new US trade policy announcement under which additional tariffs have been proposed on imports from India and 17 other countries.
According to reports, the Office of the United States Trade Representative has announced an additional 10 percent tariff on imports from India and 17 other countries under Section 301 of the US Trade Act. The US has cited concerns related to the use of forced labour as the basis for the decision. The announcement comes as the validity of previously imposed tariffs was nearing expiry.
The US tariff decision has raised concerns over higher global trade tensions. Investors are assessing the potential implications of escalating trade disputes among major economies for global economic growth, corporate costs, and international investment flows. Amid these concerns, investors reduced exposure to risk assets during early trading, resulting in broad-based selling in equities.
Several frontline stocks traded lower in early deals. Shares of aviation company IndiGo declined about 1.93 percent to around ₹4,927.15. Eternal fell approximately 1.81 percent, while Bharti Airtel traded about 1.55 percent lower.
Infosys also remained under pressure, with its shares declining about 1.17 percent to around ₹1,039.45 in early trade. UltraTech Cement, Bajaj Finance, Tata Steel, and Mahindra & Mahindra were also among the major early losers.
Despite the broader market decline, a few stocks traded higher. HCL Technologies rose about 1.69 percent to around ₹1,265.90 in early trade. Tech Mahindra and Tata Consultancy Services (TCS) advanced about 1.39 percent and 0.78 percent, respectively. Cipla, ONGC, Adani Enterprises, and Coal India were also among the notable early gainers.
