New Delhi, Aug. 28 -- The Indian stock market fell sharply on Thursday as investor sentiment weakened after the United States' additional 25% tariffs on Indian imports came into effect today, raising duties to 50% on several categories including textiles and apparel.

The BSE Sensex dropped nearly 700 points, or 0.85%, to an intraday low of 80,093.52, while the NSE Nifty 50 slipped 205 points, or 0.82%, to a low of 24,507.20. The Nifty broke its initial support at 24,600 before bouncing back from the next support zone around the 24,500 mark.

Hariprasad K, SEBI-registered Research Analyst and Founder of Livelong Wealth, said the Nifty 50 continues to trade weak on the 30-minute chart, moving within a falling channel and facing stiff resis...