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Equity benchmark indices Sensex and Nifty declined sharply for the second straight session on Friday (August 1, 2025), tracking deep losses in metal, IT and telecom stocks amid trade-related concerns and widespread selling pressure in global markets.
Besides, persistent selling by foreign investors added to the gloom, according to experts. In a volatile trade, the 30-share BSE Sensex tumbled 585.67 points or 0.72% to settle at 80,599.91. During the day, it dropped 690.01 points or 0.84% to 80,495.57.
The 50-share NSE Nifty declined 203 points or 0.82% to 24,565.35.
U.S. President Donald Trump unveiled sweeping new tariffs on dozens of countries, including 25% duties for goods from India, marking a new era of American protectionism that triggered fresh tensions and concerns over a much wider disruption in the global trade landscape.
From the Sensex firms, Sun Pharma tumbled 4.43% after the company reported a 20% year-on-year decline in consolidated net profit to ₹2,279 crore for the first quarter ended June 30, 2025.
Tata Steel, Maruti, Tata Motors, Infosys, Bharti Airtel and Tech Mahindra were also among the laggards.
However, Trent, Asian Paints, Hindustan Unilever, ITC, Kotak Mahindra Bank, and Reliance Industries were the gainers.
The U.S. President signed an executive order on Thursday that raised tariffs for over five dozen countries, with Washington’s negotiations for trade deals going down to the wire ahead of the August 1 deadline.
In the Executive Order titled ‘Further Modifying The Reciprocal Tariff Rates’, Mr. Trump announced tariff rates for nearly 70 nations.
A 25% “Reciprocal Tariff, Adjusted” has been imposed on India, according to the list released. The order, however, does not mention the “penalty” that Mr. Trump had said India would have to pay because it purchases Russian military equipment and energy. While August 1 was the tariff deadline, the new levies will come into effect from August 7.
Foreign Institutional Investors (FIIs) offloaded equities worth ₹5,588.91 crore on Thursday, according to exchange data.
In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng settled lower.
Equity markets in Europe were trading in the red. The U.S. markets ended in negative territory on Thursday.
Global oil benchmark Brent crude declined 0.39% to $71.42 a barrel.
On Thursday, the Sensex declined 296.28 points or 0.36% to settle at 81,185.58. The Nifty dropped 86.70 points or 0.35% to 24,768.35.
Published – August 01, 2025 04:51 pm IST
