Benchmarks fall 1.6% as uncertainties over US tariff dampen mkt sentiments

THOUGH many analysts are of the view that the punitive tariffs that the US has slapped on exports are of "only minimal consequences," the domestic equity markets have reacted negatively a day before the tariffs coming into force.

- BEN KOCHUVEEDAN @ Mumbai

Benchmark indices on Tuesday logged their steepest single-day fall in a month. Both the Sensex and the Nifty went into a tailspin on the first day of the new financial year, with the former plunging by 1,390 points or 1.80% to settle at 76,024.51 and the latter plummeting 353.65 points or 1.50% to close at 23,165.70 following heavy selling in IT and banking counters led by HDFC Bank, leaving inve