Stock market today: Indian stock markets opened in the red on Thursday after US President Donald Trump announced a sharp hike in tariffs on Indian goods, doubling them to 50%, weighing on overall market sentiment. As of 11:42 AM, the Nifty50 was down 138.05 points (0.56%) at 24,436.15. The BSE Sensex also fell by 409.02 points (0.51%) to 80,134.97. Earlier in the day at 9:18 AM, the Nifty was trading at 24,523.55 down 51 points or 0.21%, while the Sensex was at 80,400.73, down 143 points or 0.18%. Thursday's trading will be influenced by the US President's implementation of additional 25% tariffs. Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, "The 21-day window for the additional 25% tariff to take effect leaves room for negotiation and an eventual deal with the US. But there is huge uncertainty surrounding the trade policy and to what extent both nations will be willing to make compromises. President Trump, fresh from the successes he has extracted in deals with others including the EU, is unlikely to budge significantly from his unjustified stand. Unfortunately for India, the US is bargaining from a position of strength. India's response has been mature and measured." "Market is unlikely to panic but weakness will continue in the near-term. Since uncertainty is high investors should be cautious in their approach. At least in the near-term, export-oriented sectors will remain weak. Domestic consumption themes like banking and financials, telecom, hotels, cement, capital goods and segments of automobiles will remain resilient." US markets ended higher on Wednesday, with Nasdaq leading at over 1% growth. Apple shares increased following announcements about domestic manufacturing commitments, whilst positive corporate earnings reports also boosted sentiment. US stock futures increased early Thursday, despite Trump's warnings about 100% tariffs on semiconductor imports. Asian markets displayed mixed trading patterns in early sessions. Foreign portfolio investors sold shares worth Rs 4,999 crore net on Wednesday. Domestic institutional investors were net purchasers at Rs 6,794 crore. (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) Stay informed with the latest business news, updates on bank holidays, and public holidays.