Trump’s Threat Sends Shockwaves Through Indian Markets: Sensex Drops Over 500 Points, Reliance and Trent Lead Losses

New Delhi: Domestic stock markets witnessed a sharp decline for the second consecutive day, triggered by concerns over potential U.S. tariffs on Indian imports. During the trading session, the BSE Sensex fell more than 500 points, while the Nifty lost around 100 points. Shares of Reliance, Trent, HDFC Bank, and Infosys bore the brunt of the fall.

At 2:23 PM, the Sensex was down 525.72 points, or 0.62%, at 84,913.90, while the Nifty on the National Stock Exchange (NSE) traded 123.25 points lower, down 0.47%, at 26,127.05. Reliance Industries, India’s most valuable company, saw its shares fall nearly 5%, wiping out approximately ₹1 lakh crore from its market capitalization.

Sector and Stock Movers
Among Nifty constituents, Trent, Reliance, and Tata Motors Passenger Vehicles saw the steepest declines. On the upside, Apollo Hospitals Enterprises, Bajaj Auto, and ICICI Bank recorded gains. Sector-wise, Nifty Oil & Gas and Nifty Chemicals led the losses, while Nifty Financial Services and Nifty Pharma outperformed. During the session, Reliance shares dropped around 5%, while Tata Group’s retail arm Trent plunged over 8%.

Reason Behind the Fall
The market slide follows Monday’s losses, when the Sensex fell 332 points and the Nifty closed at 26,250, down 0.3%. Investor sentiment soured after U.S. President Donald Trump warned that additional tariffs could be imposed on India if it does not reduce its oil imports from Russia. Currently, Indian goods face a 50% tariff, with an additional 25% imposed due to purchases of Russian crude.