India's stock benchmarks slide as Reliance drops and U.S. tariff risks surge

On January 8, 2026, India's stock market saw its steepest single-day decline in four months as benchmark indices fell sharply alongside heavyweight Reliance Industries. The Sensex dropped about 0.93% and the Nifty 50 lost around 1.04%, extending weekly losses while exporters and sector indices also recorded notable declines amid rising concerns over potential U.S. tariff hikes.