Equity benchmark indices Sensex and Nifty pared most of the early losses during the morning deals but continued to trade lower on weak trends from Asian markets after the US has announced reciprocal tariffs on about 60 countries.
The US has announced 27 per cent reciprocal tariffs on India, saying New Delhi imposes high import duties on American goods, as the Donald Trump administration aims to reduce the country's trade deficit and boost manufacturing.
The move is expected to impact India's exports to the US. However, experts say that India is better-placed than its competitors, who also face increased levies.
At 10:30 hours, the 30-share benchmark index was trading at 76472.71 down by -144.73 points or by -0.19 % and then NSE Nifty was at 23277.6 down by -54.75 points or by -0.23 %.
Sensex touched intraday high of 76480.34 and intraday low of 75807.55 The NSE Nifty touched intraday high of 23282.45 and intraday low of 23145.8
The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 1779.60,+3.81%), Titan Company Ltd. (Rs. 3147.25,+1.56%), IndusInd Bank Ltd. (Rs. 712.70,+1.47%), UltraTech Cement Ltd. (Rs. 11419.15,+1.45%), Power Grid Corporation of India Ltd. (Rs. 290.50,+1.33%), among others.
The top losers of the BSE Sensex pack were Tata Consultancy Services Ltd. (Rs. 3444.60,-2.83%), Mahindra & Mahindra Ltd. (Rs. 1385.35,-2.69%), Infosys Ltd. (Rs. 1508.60,-2.66%), HCL Technologies Ltd. (Rs. 1488.85,-2.53%), Tata Motors Ltd. (Rs. 662.20,-1.43%), among others.
HCS index was at 42039.31 up by 916.54 points or by 2.23%. Jubilant Pharmova Ltd. (Rs. 965.60,+6.16%), Bliss GVS Pharma Ltd. (Rs. 126.50,+5.42%), Strides Pharma Science Ltd. (Rs. 704.60,+5.22%), Indoco Remedies Ltd. (Rs. 255.20,+4.93%), Suven Life Sciences Ltd. (Rs. 131.95,+4.81%),.
IT index was at 34637.47 down by -1004.69 points or by -2.82%. Persistent Systems Ltd. (Rs. 4871.55,-8.35%), Coforge Ltd. (Rs. 7352.05,-5.26%), KPIT Technologies Ltd. (Rs. 1244.00,-5.22%), Cigniti Technologies Ltd. (Rs. 1339.45,-5.09%), Onward Technologies Ltd. (Rs. 259.20,-3.01%),.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3802 , shares advanced were 2319 while 1282 shares declined and 201 were unchanged.