How Did the US 50% Tariff Impact Indian Stocks?

Indian shares in the textiles, shrimp, leather, and gems & jewellery sectors tumbled on Thursday after the US implemented a steep 50% tariff on Indian imports, effective from August 27. This move could affect exports valued at over $48 billion, with sectors heavily dependent on the US market being the hardest hit.

Textile Stocks Performance

• Kitex Garments: -5%
• Pearl Global Industries: -2.94%
• Siyaram Silk Mills: -2.56%
• Raymond Lifestyle: -2.37%
• Alok Industries: -1.59%
• Rupa & Company: -1.43%
• Welspun Living: -1.09%
• Trident: -1.01%

Shrimp Exporters

• Apex Frozen Foods: -5.36%
• Waterbase: -3.38%
• Avanti Feeds: -0.82%

Leather & Footwear Stocks

• Khadim India: -1.95%
• Relaxo Footwears: -1.84%
• Mayur Uniquoters: -0.83%
• Superhouse: -0.56%
• Mirza International: -0.50%

Gems & Jewellery Stocks

• BlueStone Jewellery and Lifestyle: -3.51%
• Sky Gold and Diamonds: -3.23%

Expert Insight: Siddhartha Khemka, Head of Research – Wealth Management at Motilal Oswal, said, "The steep 50% US tariffs will hit India's textiles & apparel, gems & jewellery, marine (shrimp), leather & footwear the hardest, given their heavy reliance on the US market."

Bottom Line: Indian exporters, particularly those with significant US exposure, are facing immediate market pressure due to the new tariffs.