Trump's move to heighten market volatility

The equity market is likely to see acute short-term volatility after US President Donald Trump's announcement of imposing a 27% "discounted reciprocal tariff" on imports from India.

- ARSHAD KHAN @ New Delhi

Export-driven sectors like IT and auto components face challenges as they are directly exposed to tariff impacts and broader global trade friction.

At Thursday's close, the Sensex was down 322.08 points or 0.42% at 76,295.36, and the Nifty was down 82.25 points or 0.35% at 23,250.10. The Midcap and Smallcap indices, however, managed to close in the green.

Trump on Wednesday declared a universal 10% baseline tariff on US imports, calling it "Liberation Day," with reciprocal tariffs starting at that rate. While most countries would face the baseline levy, 60 nations—including India—would be subject to higher duties, some as steep as 50%.