Fresh Trump salvo jolts mkts

35% US tariff on Canada pulls down heavyweights like HDFC Bank, RIL and TCS

- SUNDAR SETHURAMAN

Equity benchmark indices Sensex and Nifty declined for the third session in a row on Friday, dropping nearly 1 percent, dragged by heavy selling in information technology (IT), auto and energy stocks amid a muted start of the earnings season.

Renewed concerns over the US trade policy after President Donald Trump announced a 35 percent tariff on certain products from Canada and raised the prospect of increasing levies on most other countries.

Tariff-related uncertainties and mixed global market trends also added to the pressure, analysts said.

The 30-share BSE Sensex tanked 689.81 points or 0.83 percent to settle at 82,500.47. During the day, it fell 748.03 points or 0.89 percent to 82,442.25.

As many as 2,450 stocks declined while 1,557 advanced and 158 remained unchanged on the BSE. Similarly, the 50-share NSE Nifty dropped 205.40 points or 0.81 percent to 25,149.85.