<p>New Delhi: Textile, shrimp, leather, gems and jewellery stocks declined on Thursday as the steep <a href="https://www.deccanherald.com/top-business-news">50 per cent tariff</a> on Indian goods entering the United States came into effect.</p>.<p>Shares of Kitex Garments tanked 5 per cent, Pearl Global Industries edged lower by 2.94 per cent, Siyaram Silk Mills dropped 2.56 per cent, Raymond Lifestyle fell by 2.37 per cent, Alok Industries dipped 1.59 per cent, Rupa & Company (1.43 per cent), Welspun Living (1.09 per cent), and Trident Ltd (1.01 per cent) on the BSE.</p>.<p>The stocks of shrimp exporters Apex Frozen Foods tanked 5.36 per cent, while Waterbase Ltd fell by 3.38 per cent and Avanti Feeds skidded 0.82 per cent.</p>.<p>"The steep 50 per cent US tariffs will hit India's textiles & apparel, gems & jewellery, marine (shrimp), leather & footwear, the hardest, given their heavy reliance on the US market," Siddhartha Khemka, Head Of Research - Wealth Management at Motilal Oswal Financial Services Ltd, said.</p>.India drills tariff wall for elephant to pass .<p>Among leather and footwear stocks, Khadim India declined 1.95 per cent, Relaxo Footwears dropped 1.84 per cent, Mayur Uniquoters (0.83 per cent), Superhouse Ltd (0.56 per cent) and Mirza International (0.50 per cent).</p>.<p>The steep 50 per cent tariff on Indian goods entering the United States, which came into effect from August 27, would impact exports worth more than USD 48 billion.</p>.<p>The sectors, which would bear the brunt of the high import duties imposed by the Trump administration, include textiles/clothing, gems and jewellery, shrimp, leather and footwear, animal products, chemicals, and electrical and mechanical machinery.</p>.<p>Among gems and jewellery stocks, BlueStone Jewellery and Lifestyle dropped 3.51 per cent, Sky Gold And Diamonds fell by 3.23 per cent, Shanti Gold International lost 3.05 per cent, Tribhovandas Bhimji Zaveri declined 0.84 per cent and Rajesh Exports (0.37 per cent).</p>.<p>In the equity market, the 30-share BSE Sensex tanked 705.97 points or 0.87 per cent to 80,080.57. The 50-share NSE Nifty dived 211.15 points or 0.85 per cent to 24,500.90.</p>
<p>New Delhi: Textile, shrimp, leather, gems and jewellery stocks declined on Thursday as the steep <a href="https://www.deccanherald.com/top-business-news">50 per cent tariff</a> on Indian goods entering the United States came into effect.</p>.<p>Shares of Kitex Garments tanked 5 per cent, Pearl Global Industries edged lower by 2.94 per cent, Siyaram Silk Mills dropped 2.56 per cent, Raymond Lifestyle fell by 2.37 per cent, Alok Industries dipped 1.59 per cent, Rupa & Company (1.43 per cent), Welspun Living (1.09 per cent), and Trident Ltd (1.01 per cent) on the BSE.</p>.<p>The stocks of shrimp exporters Apex Frozen Foods tanked 5.36 per cent, while Waterbase Ltd fell by 3.38 per cent and Avanti Feeds skidded 0.82 per cent.</p>.<p>"The steep 50 per cent US tariffs will hit India's textiles & apparel, gems & jewellery, marine (shrimp), leather & footwear, the hardest, given their heavy reliance on the US market," Siddhartha Khemka, Head Of Research - Wealth Management at Motilal Oswal Financial Services Ltd, said.</p>.India drills tariff wall for elephant to pass .<p>Among leather and footwear stocks, Khadim India declined 1.95 per cent, Relaxo Footwears dropped 1.84 per cent, Mayur Uniquoters (0.83 per cent), Superhouse Ltd (0.56 per cent) and Mirza International (0.50 per cent).</p>.<p>The steep 50 per cent tariff on Indian goods entering the United States, which came into effect from August 27, would impact exports worth more than USD 48 billion.</p>.<p>The sectors, which would bear the brunt of the high import duties imposed by the Trump administration, include textiles/clothing, gems and jewellery, shrimp, leather and footwear, animal products, chemicals, and electrical and mechanical machinery.</p>.<p>Among gems and jewellery stocks, BlueStone Jewellery and Lifestyle dropped 3.51 per cent, Sky Gold And Diamonds fell by 3.23 per cent, Shanti Gold International lost 3.05 per cent, Tribhovandas Bhimji Zaveri declined 0.84 per cent and Rajesh Exports (0.37 per cent).</p>.<p>In the equity market, the 30-share BSE Sensex tanked 705.97 points or 0.87 per cent to 80,080.57. The 50-share NSE Nifty dived 211.15 points or 0.85 per cent to 24,500.90.</p>