Textile, leather, and gems & jewellery counters came under heavy selling pressure on Thursday as the steep 50% tariff on Indian goods entering the US took effect from August 27, impacting exports worth over USD 48 billion.
In textiles, Alok Industries slumped 4.13%, Raymond Lifestyle fell 3.66%, Siyaram Silk Mills shed 2.92%, Welspun Living lost 2.53%, Gokaldas Exports slipped 2.35%, and Trident Ltd dipped 2.16% on the BSE.
Leather and footwear stocks also retreated, with Zenith Exports plunging 4.33%, Relaxo Footwears down 2.34%, Superhouse Ltd easing 1%, and Khadim India lower by 0.77%.
Jewellery counters joined the slide—Uday Jewellery dropped 2.49%, Senco Gold fell 2.20%, Tribhovandas Bhimji Zaveri declined 1.87%, and P N Gadgil Jewellers slipped 1.10%.
The Trump administration’s tariff hike targets key Indian export sectors including textiles, gems & jewellery, shrimp, leather, animal products, chemicals, and machinery.
