The Nifty traded below the 24,600 level. Barring the consumer durables index, all the other sectoral indices on the NSE traded in red.

At 13:30 IST, the barometer index, the S&P BSE Sensex, dropped 566.48 points or 0.70% to 80,219.97. The Nifty 50 index slipped 156 points or 0.64% to 24,556.75.

In the broader market, the S&P BSE Mid-Cap index slipped 0.74% and the S&P BSE Small-Cap index fell 0.60%.

The market breadth was weak. On the BSE, 1,481 shares rose and 2,489 shares fell. A total of 191 shares were unchanged.

Trump Tariffs:

President Trump's secondary U.S. tariffs of 25% on Indian shipments kicked in Wednesday, pushing overall duties on the country's exports to 50%.

A global research house has reportedly stated that the risks to growth for the Indian economy have naturally become more real.

India's top exports to the U.S., which are electrical machinery as well as gems and jewelry, face the largest tariff increases, the report stated. Trade talks between the Indian and U.S. delegations, however, are expected to continue.

Gainers & Losers:

Hero MotoCorp (up 1.32%), Asian Paints (up 0.98%), Titan Company (up 0.86%), Adani Enterprises (up 0.82%) and Bajaj Finance (up 0.76%) were the major Nifty50 gainers.

Shriram Finance (down 3.51%), HCL Technologies (down 2.67%), Infosys (down 1.73%), Tata Consultancy Services (down 1.49%) and Sun Pharmaceutical Industries (down 1.26%) were the major Nifty50 Losers.

Stocks in Spotlight:

Affordable Robotic & Automation jumped 3.52% after the company announced that its subsidiary Humro announced its comprehensive strategy to address recent tariff changes impacting imports into the United States.

Vishnusurya Projects and Infra surged 7.04% after the company, along with its consortium partners JWIL Infra and IDE Technologies India, bagged a contract worth Rs 2,217 crore from the State Industries Promotion Corporation of Tamil Nadu.

Mahindra Logistics declined 2.27% after the company announced the resignation of chief financial officer (CFO) Saurabh Taneja, effective 19 September 2025.

Rail Vikas Nigam shed 0.19%. The company has signed a joint venture agreement with Texmaco Rail & Engineering for undertaking projects in the railway and allied infrastructure sectors.

Power Grid Corporation of India slipped 1% after the company said that it has won the tariff based competitive bidding (TBCB) bid to set up an inter-state transmission system for the Davanagere renewable energy integration project.

HFCL fell 1.06%. The company said that its material subsidiary, HTL, has bagged a contract worth Rs 101.82 crore from the Indian Army for the supply of tactical optical fiber cables and related accessories.

Global Markets:

European markets traded mixed on Thursday as investors geared up for an important earnings release from chipmaker Nvidia amid renewed political instability in France.

Most Asian markets advanced as investors digested the Bank of Korea policy decision.

South Korea's central bank kept its policy rate unchanged at 2.5% for its second straight meeting despite an uncertain trade environment for the country.

Overnight on Wall Street, the three major benchmarks closed higher stateside.

The S&P 500 ticked higher and ended the day up 0.24% at 6,481.40, setting a fresh all-time closing high. The Nasdaq Composite closed up 0.21% at 21,590.14, and the Dow Jones Industrial Average gained 147.16 points, or 0.32%, to finish at 45,565.23.

Shares of Nvidia, the world's most valuable company and the leading supplier of cutting-edge AI processors, fell in extended trading, even after its second-quarter results beat widely reported market estimates. This was primarily due to the fate of the company's China business hung in the balance, caught up in the trade war between Washington and Beijing.

Investors kept an eye for developments related to U.S. President Donald Trump's attempt to fire Federal Reserve Governor Lisa Cook, a move likely to face legal challenges.

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