Sensex, Nifty slip amid US tariff deadline concerns, weak Asian cues

Mumbai: Benchmark indices Sensex and Nifty declined in early trade on Monday amid caution ahead of the July 9 US tariff deadline, weak trends in Asian markets and foreign fund outflows.

Volatile trends engulfed markets during the early trade amid concerns surrounding the US-India trade deal, experts said.

The 30-share BSE Sensex declined 170.66 points to 83,262.23 in early trade. The 50-share NSE Nifty dipped 53.75 points to 25,407.25.

July 9 marks the end of the 90-day suspension period of the Trump tariffs imposed on dozens of countries, including



India. An additional import duty of 26 per cent was announced on Indian goods entering the US.

From the Sensex firms, Bharat Electronics Ltd, Tech Mahindra, HCL Technologies, Eternal, ICICI Bank, and Sun Pharma were among the laggards.

However, Trent, Asian Paints, Hindustan Unilever, Bajaj Finserv, and HDFC Bank were among the gainers.

In Asian markets, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index Hong Kong’s Hang Seng quoted lower while South Korea’s Kospi traded higher.