Stock market today: Nifty50 closes at 24,650; BSE Sensex down over 300 points as Trump's higher tariffs warning weighs on sentiment

Stock market today: Indian equity benchmark indices, Nifty50 and BSE Sensex, closed in red on Tuesday as Trump’s new warning of higher tariffs on India weighed on sentiment. Investors sold oil & gas and banking stocks ahead of the Reserve Bank's monetary policy decision on August 6.The NSE Nifty settled 73.20 points or 0.30 per cent lower at 24,649.55, having touched 24,590.30 during trading, down 132.45 points. The BSE Sensex dropped 308.47 points or 0.38 per cent to end at 80,710.25, after touching an intraday low of 80,554.40, down 464.32 points.Within the Sensex pack, the main decliners included Adani Ports, Reliance Industries, Infosys, ICICI Bank, Eternal, BEL, HDFC Bank, Power Grid, ITC and Sun Pharmaceutical.The gainers comprised Titan, Maruti, Trent, Bharti Airtel, Bajaj Finance, Tech Mahindra, State Bank of India, L&T, HCL Technologies and NTPC.Both BSE smallcap and midcap indices declined, falling 0.27 per cent and 0.14 per cent respectively.Asian markets ended positively, with gains in South Korea's Kospi, Shanghai's SSE Composite, Hong Kong's Hang Seng and Japan's Nikkei 225.European markets traded higher, whilst US markets finished up on Monday.Brent crude, the global oil benchmark, fell 1.02 per cent to USD 68.06 per barrel.Exchange data showed Foreign Institutional Investors sold equities worth Rs 2,566.51 crore, while Domestic Institutional Investors bought shares worth Rs 4,386.29 crore on Monday.(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)