Market declines on selling pressure ahead of US tariffs

The domestic equity indices ended the session with a sharp decline on Tuesday amid worries over the US imposition of 50 per cent tariffs on Indian goods, scheduled to come into effect from Wednesday.

- AGENCIES Mumbai, 26 August

Sensex ended the session at 80,786.54, down 849.37 points or 1.04 per cent. The 30-share index opened in negative territory at 81,377.39 against the last session's closing of 81,635.91. The index escalated the loss further during the intraday trade amid overall selling, and it touched an intraday low at 80,685.98.

Nifty settled at 24,712.05, down 255.70 points or 1.02 per cent. "Domestic market sentiment turned cautious as the US penalty tariff deadline expires tomorrow. The persistent depreciation of the Indian currency is adding pressure and may further impact foreign institutional inflows," said Vinod Nair, Head of Research, Geojit Investments Limited.