FX.co ★ Sensex Down for 2nd Day

India's BSE Sensex concluded the first trading day of August with a decline of approximately 0.7%, closing at 80,599.9. This drop extended the losses seen in the previous session. Investor sentiment took a hit following an announcement by US President Donald Trump regarding new tariffs targeting various trade partners, which are slated to commence on August 7. These include a notable 25% tariff along with additional punitive measures on imports from India. The market's unease was further exacerbated by an uneven corporate earnings season and ongoing withdrawals of foreign funds. In terms of sector performance, the pharmaceutical, metal, and IT sectors were among the hardest hit, while consumer stocks offered some degree of stability. Leading the list of decliners, Sun Pharma, Tata Steel, Infosys, Maruti Suzuki India, and Tata Motors saw their shares drop between 4.4% and 2.4%. Over the week, the index registered a 1.1% loss, marking its fifth consecutive week of downturns.