Mumbai: The main stock market indices Sensex and Nifty fell in early trade on Thursday as US President Donald Trump imposed an additional 25 percent tax on India's purchase of Russian oil. Apart from this, investors were also affected by the outflow of foreign funds.
The total tax levied on New Delhi after the additional 25 percent tax imposed by the US on India came into effect on Wednesday has increased to 50 percent.
In early trade, the 30-share BSE Sensex fell 508.16 points to 80,278.38. The 50-share NSE Nifty fell 157.35 points to 24,554.70. Among the Sensex firms, HCL Tech, HDFC Bank, Power Grid, Sun Pharma, NTPC and Bharat Electronics were the main losers.
However, Eternal, Asian Paints, Titan, Maruti and Larsen & Toubro were gainers. Meanwhile, the rupee rose 10 paise to 87.59 against the dollar in early trade.