The Indian stock market resumed its losing streak in Tuesday’s session but recovered most of its early losses to end with minimal cuts, as investor sentiment turned cautious after U.S. President Donald Trump, in an overnight social media post, threatened New Delhi with significantly steeper tariffs, though he did not specify the level.
The Nifty 50 closed with a 0.30% decline at 24,649 points, while the S&P BSE Sensex ended 0.42% lower at 80,681 points. Broader markets also closed weaker, with the Nifty Midcap 100 and Nifty Smallcap 100 indices each losing up to 0.34%.
Most of the sectors that witnessed a sharp turnaround in the previous trading session were sold off sharply, with Oil & Gas, Pharma, and FMCG emerging as the biggest laggards, while auto index managed to end with decent gains.
Trump’s repeated tariff threats are driven by India’s strong ties with Russia and its position as the largest importer of Russian crude. He accused India of profiting from the Russia-Ukraine conflict by reselling discounted Russian oil on global markets.
Responding to the U.S. president’s remarks, India’s external affairs ministry stated that India began importing oil from Russia only after “traditional supplies” were diverted to Europe following the Russia-Ukraine war in 2022.
The ministry also called out the EU and the U.S., saying, “It is revealing that the very nations criticizing India are themselves indulging in trade with Russia.”
Stocks leading the losses in Indian stock market today
Among the top laggards in the Nifty 500 index was Triveni Turbine, which plunged 10% to a four-month low of ₹532.85 after the company posted weak June-quarter earnings, impacted by sluggish domestic and export performance.
Reliance Power extended its sell-off for the fifth consecutive session, hitting another 5% lower circuit. The once high-flying stock has now lost 14.28% so far in August, adding to a steep 25% decline in July.
BSE shares also came under pressure, falling 5% after reports surfaced that India’s market regulator is tightening rules for derivative trading among retail investors, as authorities seek to curb speculative use of these instruments.
Meanwhile, Inox India shares tumbled 5% following the release of its June-quarter results, while Netweb Technologies snapped its five-day winning streak, dropping 4% to ₹2,207 despite recent gains driven by strong Q1 earnings.
Swiggy shares closed 3.42% lower at ₹385 apiece. Other stocks, including Welspun Living, Intellect Design Arena, Piramal Enterprises, Timken India, Aarti Industries, eClerx Services, Minda Corporation, Cera Sanitaryware, Kirloskar Oil Engines, Britannia Industries, and eight others from the Nifty 500 pack, also ended lower by up to 4%.
Stocks leading the gains in Indian stock market today
While the Indian stock market closed lower, several stocks managed to buck the trend. Newgen Software Technologies led the gainers, surging 13% to ₹941 apiece, while Tanla Platforms also rallied 11.62% to ₹672 apiece.
Godfrey Phillips India shares were on investors’ radar, jumping 10% to ₹9,881 apiece after the company reported a stellar performance in the June quarter. Similarly, Chambal Fertilisers rose nearly 7% after its Q1 net profit increased 22.5% YoY.
Other stocks such as Sundaram Finance, UNO Minda, Solar Industries, BLS International Services, Firstsource Solutions, Radico Khaitan, India Cements, Motherson Sumi Wiring India, Siemens, and Mazagon Dock Shipbuilders also gained up to 4.2%.
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