Nifty Slides Under 24,800 Amid Tariff Fears; Pharma, Textiles, and Auto Sectors Dropped

The Indian stock market was unable to maintain its intraday rebound and closed lower during the week-ending trading session on Thursday. The Nifty index finished under the 24,800 mark following an announcement from U.S. President Donald Trump imposing 25% tariffs on imports from India.

Nevertheless, he later mentioned that discussions regarding trade with India will remain ongoing. Indian representatives have confirmed that the following set of meetings is planned for early August.

On Thursday, the Sensex ended down 296 points at 81,185, whereas the Nifty 50 closed 86 points down at 24,768. The wider market performed worse, as the Nifty Midcap and Smallcap indexes finished 1% lower.

By the end of trading on , the sentiment of individual investors towards the Nifty 50 returned to 'neutral'.

Stock Moves

In terms of sectors, only FMCG (1.4%) and media (0.1%) finished with gains, while all others closed lower. The energy sector dropped 1.4%, pharmaceuticals fell 1.3%, and metals declined by 1.2%, making them the top performers in negative territory.

A sudden tariff-related impact led to declines in various sectors including textiles (Welspun, Trident, KPR Mills, Gokaldas dropped between 2% to 5%), pharmaceuticals (Lupin decreased by 2%, Cipla slipped 3%), and automotive parts (Motherson Sumi and Bharat Forge both fell 2%).

Hindustan Unilever was the leading Nifty performer with an increase of 3.5%, fueled by consistent revenue gains, closely trailed by Jio Financial (plus 3%) following its fund-raising initiatives.

Numerous earnings announcements were released in the final hour of trading: Ambuja Cement dropped 4.5%, Adani Enterprises fell 4%, Sun Pharma decreased 2%, and Maruti Suzuki slipped 0.8%. Meanwhile, Dabur rose more than 1%.

Additional significant gainers are Emami with an increase of 6%, HEG rising 7%, and Kaynes Tech along with Sagility both surging 10%.

Markets: What Next?

Analyst Ashish Kyal It was observed that the Nifty index has returned to Gann magnetic levels at 24,728. He expects the market to remain within a range of 24,660 to 24,890 for the next one to two days before making another significant movement. The low recorded on Thursday around 24,630 has been recognized as an important level of support.

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Around the world, European markets showed varied performance, whereas U.S. stock futures suggest a sluggish beginning for Wall Street.

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