Tariffs cast long shadow on equities, rattle D-Street

Sensex slips to three-week low; export-heavy sectors in line of fire

- SUNDAR SETHURAMAN

Indian equities extended losses on Thursday as investors assessed the impact of fresh US tariffs on the economy and corporate earnings. The additional 25 per cent duties, announced earlier by US President Donald Trump, came into force on Wednesday, raising the effective levy on several Indian goods to as high as 50 per cent.

With markets closed on Wednesday for Ganesh Chaturthi, the reaction came in Thursday's session. The Sensex closed 706 points, or 0.9 per cent, lower at 80,081, while the Nifty declined 211 points, or 0.9 per cent, to 24,501—both indices marking their second straight day of losses. The Sensex ended at its lowest level since August 8, while the Nifty had last closed below the current level on August 12.