Mumbai, Jul 31: Equity benchmark indices Sensex and Nifty ended lower on Thursday after US President Donald Trump announced the imposition of a 25 per cent tariff on all goods coming from India starting August 1 and an unspecified penalty for buying Russian crude oil and military equipment.
Despite the weak start, the indices staged a sharp recovery, but selling pressure re-emerged towards the fag of the session. However, buying in some heavyweight stocks restricted the downward trend, traders said.
Halting its two-day rally, the 30-share BSE index declined 296.28 points, or 0.36 per cent, to settle at 81,185.58 after recovering some lost ground during the afternoon trade. During the morning session, the gauge tanked 786.71 points, or 0.96 per cent, to 80,695.15.
As many as 2,418 stocks declined, while 1,598 advanced and 137 remained unchanged on the BSE. The 50-share NSE Nifty dropped 86.70 points or 0.35 per cent to 24,768.35.
“Following a turbulent start driven by fresh tariff threats, the Indian market started on a pessimistic note. However, the domestic market attempted a strong recovery, but by the end of the day, it closed with marginal losses on a monthly expiry day.
