Stock Market Live: Sensex ends 296 pts lower, Nifty at 24,768; RIL, Tata Steel, Sun Pharma, NTPC, Adani Ports lead fall

On the BSE Sensex pack, 22 out of 30 stocks ended in negative terrain, led by RIL, Tata Steel, Sun Pharma, NTPC, Adani Ports.

On the other hand, HUL, Eternal (Zomato), ITC, Kotak Mahindra Bank, and Power Grid were among top gainers.

Indian benchmark indices ended lower in choppy trade on Thursday as investors turned jittery after U.S. President Donald Trump imposed a 25% tariff and penalty on Indian exports.

The BSE Sensex closed 296 points, or 0.36%, lower at 81,185, and the NSE Nifty settled at 24,768, down 87 points, or 0.35%.

Shares of Emami rallied over 6% after the FMCG major released its June quarter earnings report. The company’s profit after tax grew 9% YoY to ₹164 crore, while revenue stood at ₹904 crore despite a challenging demand environment. Gross margins expanded by 170 basis points to 69.4%, supported by benign input costs and judicious price increases, while EBITDA stood at ₹214 crore.

The quarter witnessed persistent pressure on urban discretionary consumption, while rural demand displayed signs of recovery. However, an unusually soft and shortened summer, caused by unseasonal rainfall and the early arrival of the monsoon, negatively impacted consumption across the company's summer-centric portfolio, the company said in a release.

Shares of Ambuja Cements dropped over 3% after the cement company released its June quarter earnings report.

The Adani group company reported a 23% YoY growth in net profit to ₹788 crore for the first quarter of the financial year 2026, while revenue from operations also rose over 23% to ₹10,244 crore in Q1 FY26.

The benchmark indices, BSE Sensex and NSE Nifty, staged a smart recovery by mid-session on Thursday after a steep fall earlier in the day, as investors digested the impact of the U.S. tariff on Indian exports.

The broader markets continued to remain under selling pressure. Nifty Midcap index is down 0.57%, while the Smallcap index has fallen by 0.54%.

15 constituents of the Nifty 50 have advanced, while 14 companies of the Sensex 30 are trading in green with HUL still leading in both the scrips. Out of the 2809 stocks traded on the NSE, 944 have advanced, 1773 declined and 92 remained unchanged.

Nifty FMCG is trading in green after HUL posted robust Q1FY2026 performance, leading to its share price surging by 3.5%. Emami trails second, clocking a 3% rise, bringing its share price to Rs 582.2.

The Nifty Pharma index slipped down by 1.14% to 22,809.95. Ipca Labs, Lupin, and Zydus Life drag by 3.17%, 2.79% and 2.15% respectively. Even amongst the pharmaceutical companies in the Nifty 50, Cipla and Dr Reddy's saw a drop in their share prices by 1.16% and 1.48% as well.

This drop is seen as a reaction to U.S. President Trump's ongoing tariff announcements, even though the pharma sector remains exempted. In a Truth Social post, Trump has indicated that duties on drug exports are likely to be introduced soon.

In a post on his social media platform, Truth Social, Trump lashes out on India for maintaining trade relations with Russia. "I don't care what India does with Russia. They can take their dead economies down together, for all I care," he said in the post. This comes after he announced imposing 25% tariffs on inports from India.

While a 25% tariff imposed by the US on Indian exports certainly disrupts vital sectors and presents immediate challenges for India's economy, it is improbable that it will significantly alter the country’s long-term growth path, said Rajesh Palviya, SVP - Research, Axis Securities.

He said that India’s growth narrative is supported by solid fundamentals such as a growing domestic market, vibrant entrepreneurial spirit, and increasing international partnerships. Additionally, elevated tariffs ultimately raise expenses for consumers and businesses in the US, rendering these measures impractical over time.

“Both countries have a shared interest in preserving advantageous trade relations, increasing the chances that tariff policies will be revised or eased in the future. As market conditions and consumer demands evolve, both parties may be inclined towards negotiation and collaboration, which could mitigate any lasting effects of temporary tariff increases."