Nifty falls under 24,500 on monthly expiry amid US tariff shock

The domestic share market indices traded on a weak note on Thursday amid sustained profit booking, falling nearly 1% after the U.S. imposed 50% tariffs on India.At close, the Sensex was down 705.97 points or 0.87% at 80,080.57, and the Nifty was down 211.15 points or 0.85% at 24,500.90. The market started on a weak note, extending Tuesday’s decline, as the Nifty slipped below 24,500 intraday on broad-based selling. However, selective buying at lower levels, led by consumer durables, helped limit losses.
Titan Company, L&T, Coal India, Asian Paints, Hero MotoCorp were the top gainers on the Nifty, while losers included Shriram Finance, HCL Technologies, TCS, Power Grid Corporation, Infosys.On the sectoral front,except consumer durables, all other sectoral indices ended in the red with bank, IT, realty, FMCG, telecom down 1% each.The BSE midcap index shed 1 percent and smallcap index declined 0.9%, according to information.
Rupee Close:
On 28 Aug'25, the Indian rupee rose by 6 paise to close at 87.63 against the US dollar on Thursday aided by a weaker greenback and a decline in crude oil prices.However, concerns over additional US tariffs on Indian products, which kicked in on Wednesday, and a decline in domestic equity markets capped gains in the local unit, according to forex traders. The US government has imposed a total of 50 per cent tariffs on Indian exports to America, barring a few sectors.
Trading Guide: 
Vinod Nair, Head of Research, Geojit Investments stated,domestic equities ended lower as pessimism took hold following the implementation of tariffs on Indian goods, dampening investor sentiments. While the cotton import duty exemption briefly lifted hopes of policy support to counter tariff impacts, triggering a short-lived intraday recovery, investor mood remained fragile, with large caps declining and mid and small caps underperforming amid risk-off sentiment.Most sectors, including Auto, IT, FMCG, and Metals, traded in the red as investors turned to profit booking from recent gains, while Consumer Durables outperformed, likely supported by GST rationalisation and expectations of festive demand.
Market experts recommended five stocks to buy on Thursday-eClerx Services Limited, Devyani International, IPCA Laboratories, Ola Electric Mobility, and Vishal Mega Mart.

(Business Correspondent)