Trump Tariffs Hit Indian Stock Market: Three-Month Low, Worst Losing Streak Since Covid

The bears dominated Dalal Street on Friday, dragging the Indian equity market to a three-month low and marking the sixth consecutive weekly loss for benchmark indices — the longest losing streak since the Covid-19 crash of March 2020.

Both the Nifty 50 and Sensex fell 0.95% as tensions escalated between the US and India over steep tariffs. The slide followed US President Donald Trump’s declaration that he would not engage in trade talks with India amid the ongoing standoff.

The Nifty 50 closed at 24,363.30, down 232.85 points, while the Sensex dropped 742 points to settle at 79,858.

Analysts said sustained selling by foreign institutional investors (FIIs) and downward revisions in India’s growth outlook by global agencies added to the pressure, with the tariff dispute weighing heavily on sentiment.

Realty and metal stocks suffered the most. On the BSE, NTPC, Titan, and Trent were top gainers, while Bharti Airtel, Tata Motors, and M&M led the losers’ pack.

The market’s nerves have been rattled ever since Trump announced a 25% tariff on all Indian imports. New Delhi’s criticism of Washington’s “double standards” over Russian oil purchases prompted Trump to impose an additional 25% penalty, bringing the total tariff to 50%.

Beyond the benchmarks, the Nifty Bank fell 350 points and the Midcap index shed 660 points. PG Electroplast saw the steepest fall of the day, plunging 23% after posting weak Q1 results and cutting its FY26 growth guidance.