Indian Markets Open Lower as US Tariffs Take Effect
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BTCCSquare news:
Indian equity markets opened sharply lower as new 50% US tariffs on Indian goods came into force. The Nifty 50 index dropped 0.51% to 24,586.80 while the Sensex fell by 408 points in early trading. Market volatility spiked ahead of monthly derivatives expiry, with the India VIX index jumping 4% to 12.2 earlier this week.
Export-focused sectors bore the brunt of selling pressure, particularly textiles, jewelry, and seafood companies with significant US exposure. 'India now faces one of the world's harshest tariff regimes,' noted Vikram Kasat of PL Capital, pointing to an effective export rate of 34% to the US market.
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