Equity benchmark indices Sensex and Nifty fell on Friday, extending their downward journey for the third consecutive day, as investors stayed under pressure due to imposition of high US tariffs and relentless foreign fund outflows. The 30-share BSE Sensex dropped 270.92 points or 0.34 per cent to settle at 79,809.65. During the day, it declined 338.81 points or 0.42 per cent to 79,741.76. The 50-share NSE Nifty edged lower by 74.05 points or 0.30 per cent to 24,426.85.

The US has imposed a steep 50 per cent tariff on Indian goods entering America from August 27.

This high duty is expected to impact exports of certain labour-intensive sectors like textiles and leather and footwear and shrimp.

“Nifty ended with marginal loss of 74 points to close at 24,426.85 due to persistent concerns over the steep 50 per cent US tariffs on Indian exports,” Siddhartha Khemka - Head Of Research, Wealth Management, Motilal Oswal Financial Services Ltd, said.

From the Sensex firms, Mahindra & Mahindra fell by 2.96 per cent, followed by Reliance Industries which lost 2.21 per cent. Infosys, NTPC, Tata Motors and Tech Mahindra were also among the laggards. However, ITC, Bharat Electronics, Trent, and Larsen & Toubro were among the major gainers.