Indian Equity Markets Slide on US Tariff Announcement; Metals and Energy Sectors Hit Hard

India's benchmark Sensex index plunged below the 80,000 level during mid-session trading as markets reacted to former US President Donald Trump's announcement of additional tariffs on Indian goods. The 25% levy triggered broad-based declines, with the metals, oil & gas, and realty sectors bearing the brunt of the selloff.

Export-sensitive sectors including textiles, jewelry, and auto components showed particular vulnerability. The Nifty Metal index dropped over 1%, reflecting global trade tensions, while PSU banks and energy stocks mirrored the downward trajectory. Only media stocks defied the trend with marginal gains.

Goldman Sachs analysts warn the new tariffs could shave 0.3 percentage points annually from India's GDP growth. Market participants now watch for potential Ripple effects across emerging market assets, including cryptocurrencies that often correlate with risk appetite during geopolitical trade disruptions.