Indian stocks settled lower as investor sentiments took a hit after Donald Trump’s 50 per cent tariffs on US exports took effect on Wednesday. At close, the BSE Sensex was at 80,080.57, down 705.97 points. Nifty50 settled at 24,500.9, down 211.15 points or 0.85 per cent. On BSE, HCLTech, TCS, PowerGrid, and Infosys were among the top laggards, while Titan, L&T, Maruti Suzuki and Axis Bank were among the top gainers. Shares of HDFC Bank fell as much as 1.89% to an intra-day low of ₹955 apiece on the National Stock Exchange (NSE) during the early trading session on Thursday, August 28. This comes on the back of an The Economic Times report that 15.6 lakh shares of the country’s largest private lender changed hands in a large block deal.
However, the biggest surprise of the day was Anil Ambani owned stocks. Reliance Infra share price today rose 2.92% to Rs. 274.85 on strong trading volumes, shrugging off market concerns around CBI searches.The stock opened at Rs. 270 and touched an intraday high of Rs. 277.90, while the low stood at Rs. 269.10. The upward movement came despite the news regarding CBI investigations linked to Anil Ambani and Reliance Communications The stock prices ended at 272 gaining by two percent. Meanwhile, Reliance Power rose 0.83% to close at ₹45.10 gaining ₹0.37 from its previous close of ₹44.73 after going up by 2 percent in the morning trade.
Despite the continued sell-off in the market, some stocks bucked the trend, with Vardhman Textiles emerging as the top performer, gaining 13% to ₹450, while Ola Electric extended its rally for the third straight session, rising another 8% to ₹54.8. Earlier, on July 30, US President Donald Trump had announced an additional 25% tariff on Indian goods. In contrast, competitors such as Vietnam (20%), Bangladesh (18%), Indonesia, Malaysia, and the Philippines (19%), as well as Japan and South Korea (15%), enjoy significantly lower rates, according to reports.Indian Prime Minister Narendra Modi remained firm, asserting that his government will find a way forward despite the economic pressure from Washington as the tariffs take effect. The India VIX, regarded as a measure of market fear, rose to 12.22, signalling increased uncertainty and volatility expectations.