Mumbai: Benchmark BSE Sensex tumbled 849 points to close below the 81,000 level on Tuesday due to widespread selling pressure after the US issued a draft notice on the implementation of an additional 25 per cent tariff on Indian products.

The 30-share BSE Sensex tumbled 849.37 points, or 1.04 per cent, to close at 80,786.54 with 25 of its constituents ending lower and five with gains. During the day, the index nosedived 949.93 points, or 1.16 per cent, to hit a low of 80,685.98. The 50-share NSE Nifty dropped 255.70 points, or 1.02 per cent, to finish at 24,712.05. In the intra-day session, it dived 278.15 points, or 1.11 per cent, to hit a low of 24,689.60. Persistent foreign fund outflows and losses in global equities following US President Donald Trump’s firing of a Fed governor also dampened investor sentiment, analysts said.

“Sentiment was largely dampened by caution ahead of the upcoming tariff deadline, which weighed heavily on export-sensitive sectors,” Ajit Mishra, Sr V-P (research), Religare Broking, said. Realty, pharma, banking and metal stocks bore the brunt of the selling, while FMCG shares displayed relative resilience with marginal gains.

“Domestic market sentiment turned cautious as the US penalty tariff deadline expires tomorrow. The persistent depreciation of the INR is adding pressure and may further impact foreign institutional inflows,” Vinod Nair, Head of Research, Geojit Investments, said.

Sun Pharmaceutical was the biggest laggard among Sensex firms, declining by 3.40 per cent following reports that Donald Trump had suggested a cut in drug prices of between 1,400 per cent and 1,500 per cent. Trump’s latest remarks came as his administration adopts an aggressive stance on pharmaceutical pricing and plans to impose higher tariffs on imported medicines.

Tata Steel, Trent, Bajaj Finance, Mahindra & Mahindra, Bajaj Finserv, Reliance Industries, Axis Bank, Tech Mahindra, Adani Ports, Titan, BEL, and Larsen & Toubro were also among

the losers.

However, Hindustan Unilever, ITC, Tata Consultancy Services and UltraTech Cement were the gainers. Maruti Suzuki India gained 1.85 per cent as the company kicked off exports of its first electric vehicle e VITARA to 100 countries and also inaugurated the production of lithium-ion battery cells for strong hybrid electric vehicles at its facility in Gujarat.

The pressure was compounded by sustained foreign institutional selling, a weakening rupee, and a rebound in crude oil prices, prompting investors to reduce risk exposure, Mishra said.