New Delhi, Aug. 7 -- The Indian stock market traded sharply lower on Thursday, dragged down by losses across the board, after the US President Dnoald Trump announced additional 25% tariffs on Indian goods, lifting the total tariff rates to 50%.

The benchmark BSE Sensex declined 0.6% to trade near 80,000 level, while the NSE Nifty 50 index dropped below 24,450 level, weighed down by selling in metals, auto, Oil & Gas, pharma and banking stocks.

Broader markets also reeled under pressure, with the Nifty Midcap 100 and the Nifty Smallcap 100 indices falling 0.9% each. Bank Nifty index also traded over half a percent lower.

Adani Ports & SEZ, Tata Motors, Adani Enterprises, Jio Financial Services, Apollo Hospitals Enterprise, and Cipla wer...