New Delhi: Domestic stock markets ended in steep decline today, marking the fourth consecutive day of losses, as U.S. President Donald Trump endorsed a bill proposing a 500% tariff on imports from India. The announcement sent shockwaves across financial markets.
The BSE Sensex fell by 780.18 points (0.92%), closing at 84,180.96, while the NSE Nifty dropped 263.90 points (1.01%) to 25,876.85. This represents the largest single-day fall in the market since 8 December 2025.
Over the past four days, the Sensex has lost over 1,500 points, with investors facing a total erosion of ₹7.19 lakh crore in market capitalization. The market capitalization of BSE-listed companies fell to ₹474 lakh crore during this period.
Sectoral Impact
Among Sensex stocks, TCS, Mahindra & Mahindra, Larsen & Toubro, Reliance Industries, and Tata Steel experienced the sharpest declines. Reliance, India’s most valuable company, dropped 2.25%, while broader indices saw Nifty Midcap 100 fall 1.96% and Nifty Smallcap 100 decline 1.99%. On the upside, Eternal, ICICI Bank, Bajaj Finance, and BEL saw gains during the session.
The decline comes amid Trump’s approval of a bill imposing strict sanctions on countries purchasing Russian oil. Senator Lindsey Graham has indicated that voting on the bill could take place next week. If passed, the legislation could severely impact countries such as India, China, and Brazil, allowing the U.S. President to impose tariffs on nations buying Russian oil. The U.S. alleges that these countries are supporting Putin’s war machinery by purchasing cheaper Russian oil.
Market analysts also cite global uncertainties, the ongoing political crisis in Venezuela, and downward trends in international markets as contributing factors to the sharp decline in Indian equities.
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