Stock Market Today: Sensex Dips 280; Nifty Below 24,500, FMCG, Pharma In Green Despite Trump Tariff Shock

Stock Market Alert: Nifty and Sensex opened lower on Thursday, August 7, as the investors reacted to the US President Donald Trump's 50% tariff announcement on Indian imports. Nifty opened 110 points lower at 24,464 points, whereas BSE Sensex was down around 80,263 points during the stock market opening today.

All the sectors sensitive to Trump tariffs like fisheries, metal, etc were trading in red. However, the pharma sector emerged as an exception as Nifty Pharma was up around 0.39% after the early stock market opening.

Stock Market Opening

Nifty and Sensex opened lower on Thursday at 24,464 and 80,263 points respectively. Despite the phenomenal increase in the Trump tariffs on Indian imports, there was a mixed trend seen in the sectoral indices. All the broad market indices were trading in red including Nifty Small cap, Mid cap 50, 100, etc India Vix was also down around 1.17%.

Top Gainers, Top Losers

Eternal, Tata Motors, Kotak Bank, Adani Ports, Adani Enterprises, Reliance Industries, etc were among the top laggards on Nifty 50. Whereas, Hero Motocorp, Trent, Wipro, Nestle India, Titan, etc are among the top gainers.

Unlike the Indian stock market's weak opening, the United States market showcased strong momentum on Wednesday. "On 06 th Aug 2025, U.S. markets were positive with S&P 500 up by +45 pts (+0.73%), Dow Jones was up by +81 pts (+0.18%) and Nasdaq was up by +296 pts (+1.29%). India VIX was up by ~2.5%," noted Ventura in its report.

Will Nifty 50 Fall Further Today?

After a negative opening, Nifty 50 is likely to see a downward trend on Thursday. "On technical grounds, Nifty has an immediate Support at 24500. If Nifty closes below that, further downside can be expected towards 24440-24370 mark. On the flip side 24640-24700 will act as strong resistance levels," noted Nirmal Bang in its report.

The weak Indian stock market opening has come hours after US President announced to nearly double tariffs on Indian imports from 25% to 50% because of India's oil trade with Russia. "India has not been a good trading partner because they do a lot of business with us, but we don't do business with them. So we settled on 25 per cent, but I think I'm going to raise that rate quite substantially in the next 24 hours," Trump told earlier in an CNBC interview.

US tariffs are likely to significantly impact major Indian sectors like metal, textile, jewellery and diamond, fisheries, sea food industry, pharmaceutical industry, etc. However, the pharma industry is currently exempted from the tax, but Trump has threatened of imposing significantly higher taxes to the sector in coming months.

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