"While India Is Our Friend...": Trump Announces 25
March 10, 2026
Sensex and Nifty Fall Amid Tariff Worries, Pharma & Metal Stocks Decline
Indian markets ended in the red after a volatile Thursday session, driven by global uncertainty and geopolitical tensions. The BSE Sensex fell 296.28 points (0.36%) to close at 81,185.58, while the NSE Nifty dropped 86.70 points (0.35%), settling at 24,768.35.
Markets had dropped nearly 0.9% earlier in the day after U.S. President Trump announced a 25% tariff on Indian imports, effective August 1, labeling it a negotiation tactic. Sectors like textiles, pharma, and metal were among the most affected.
Key Market Triggers:
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US Tariff Threat: 25% tariff and unspecified penalty on India from August 1.
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Weak Earnings: IT and financials continue to underperform.
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FII Selling: Persistent foreign outflows in July.
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Rising Oil Prices: Adding pressure to inflationary outlook.
Sector Impact:
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Tata Steel fell 3%, Sun Pharma declined 2%.
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Textile stocks like Welspun Living, Vardhman, and KPR Mills dropped between 3.2% to 5.1%.
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Small-cap and Mid-cap indices also lost around 1%.
Top Quarterly Earnings (Q1 FY26):
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HUL: PAT up 8% YoY to ?2,732 crore.
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Ambuja Cements: PAT up 24% to ?970 crore.
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Sun Pharma: PAT down 20% to ?2,278 crore.
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Vedanta: PAT down 12% to ?3,185 crore.
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Adani Enterprises: PAT plunges 45% to ?976 crore.
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Swiggy: Loss widens to ?1,197 crore; revenue up 54%.
Other Key Results:
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Mankind Pharma: Profit down 18% despite 24.5% revenue rise.
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Coal India: PAT at ?8,743 crore vs ?9,172 crore estimate.
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Dabur: PAT up 3% to ?514 crore.
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City Union Bank: PAT up 15.7% YoY at ?306 crore.
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TVS Motors: Plans to raise ?500 crore via NCDs.
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Equitas SFB: Raised ?500 crore through NCDs.
Global Market Snapshot:
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S&P 500 futures up 0.9%.
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Japan Topix rose 0.7%.
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Hang Seng, Shanghai Composite fell between 0.7%–0.9%.
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Euro Stoxx 50 futures slightly up 0.2%.
Market Outlook:
With uncertainty around the U.S.-India trade stance and weak earnings, volatility is expected to persist. Investors may watch for FII flows, crude oil movements, and further government responses to tariff threats.
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