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Domestic equity benchmarks suffered sharp losses on Tuesday amid a broad-based sell-off, led by financial stocks, as investors fretted about an official US notification confirming the Trump 2.0 administration's move to take the total duty on Indian goods to 50 per cent.

The additional duty of 25 per cent -- taking the total levy to 50 per cent -- takes effect on Wednesday. 

Both headline indices tumbled 1.0 per cent for the day. The Sensex gave up 849.4 points to end at 80,786.5 while the Nifty50 lost 255.7 points to settle at 24,712.1. 

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Shriram Finance, Sun Pharma, Tata Steel, the Bajaj twins, Trent, Coal India, Reliance, Adani Ports and Dr Reddy's Labs -- closing between 1.8 per cent and 4.0 per cent lower -- were the worst hit among the 41 losers in the Nifty50 basket. 

On the other hand, Eicher Motors, HUL, Maruti Suzuki, ITC and Nestle India -- closing between 0.5 per cent and 2.7 per cent higher -- were the top gainers in the 50-blue-chip pack.

Among index heavyweights, RIL, HDFC Bank, ICICI Bank, Bharti Airtel and Bajaj Finance were the biggest contributors to the fall in both main gauges, whereas buying in stocks like HUL and Maruti lent some support.

The Nifty Bank -- whose 12 constituents include SBI and HDFC Bank -- slid 688.9 points, or 1.3 per cent, to finish at 54,450.5. Financial services hold the maximum weight in the Nifty50, at almost 38 per cent. 

Among broader indices, Nifty Midcap 100 and Nifty Smallcap 100 fell 1.6 per cent and 2.0 per cent, respectively. 

Overall market breadth was extremely bearish, as only two stocks rose against every five falling scrips on BSE. 

Global markets

European shares began the day in the red, reflecting the trend across much of Asia, with the pan-European Stoxx 600 index trading 0.7 per cent lower at the last count. 

The UK's FTSE 100 was down 0.6 per cent and France's CAC was down 1.4 per cent while Germany's DAX was down 0.3 per cent. 

Dow futures traded around 25 points lower, indicating a muted start ahead on Wall Street later. 

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Sandeep Singh is a journalist and digital editor with hands-on experience across business, markets, and policy reporting in some of India’s top newsrooms. Known for his calm presence under ...LATEST NEWSBy accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.