India's BSE Sensex closed about 0.7% down at 80,599.9 on the first trading day of August, extending losses from the prior day. Market sentiment soured after US President Donald Trump announced new tariffs on several trading partners - set to take effect on August 7 - including a 25% tariff and additional punitive duties on Indian imports. Investor concerns were further compounded by a mixed corporate earnings season and continued foreign fund outflows. On the sectoral front, pharma, metal, and IT were among the top losers, while consumer stocks emerged as a defensive play. Sun Pharma, Tata Steel, Infosys, Maruti Suzuki India, and Tata Motors were the top laggards, falling in the range of 4.4% to 2.4%. Trent, Asian Paints, Hindustan Unilever (HUL) and ITC were among the top gainers, with gains ranging from 1% to over 3%. For the week, the index posted a 1.1% loss, marking the fifth consecutive weekly decline.