Indian Benchmarks Record Sharpest Decline Since August as Washington Proposes Heavy Tariffs

Indian equity benchmarks fell sharply on January 8, 2026, marking the worst single-day performance for the market in more than four months. As of 1:48 p.m. IST, the Nifty 50 NSEIfell approximately 1% to 25,884.15, while the BSE Sensex BSESNtraded 0.89% lower at 84,207.45. Both major benchmarks are now poised to log their biggest single-day drop since August 26, 2025. This downturn was primarily triggered after United States USPresident Donald Trump donald trumpwarned of higher tariffs on goods from India INin response to the country continuing its purchases of Crude Oil CLUSDfrom Russia RU.