Sensex, Nifty decline amid IT stock selloff and US tariff concerns

New Delhi: Benchmark indices Sensex and Nifty closed lower on Thursday as IT and tech stocks saw heavy selling following US President Donald Trump’s announcement of reciprocal taxes on 60 countries, including India.

The 30-share BSE Sensex ended 322.08 points, or 0.42%, lower at 76,295.36. During intraday trade, it plunged 809.89 points, or 1.05%, to a low of 75,807.55 before recovering some losses due to gains in pharmaceutical stocks. The broader NSE Nifty fell 82.25 points, or 0.35%, to settle at 23,250.10.

Among the top losers in the Sensex pack were Tata Consultancy Services, HCL Technologies, Tech Mahindra, Infosys, Tata Motors, Bajaj Finance, Kotak Mahindra Bank, Mahindra & Mahindra, Bharti Airtel, Maruti Suzuki India, and Tata Steel.

On the other hand, PowerGrid, Sun Pharmaceuticals, UltraTech Cement, NTPC, Asian Paints, Nestle India, Titan, IndusInd Bank, and Axis Bank emerged as the gainers for the day.