New Delhi, Aug. 28 -- The Indian stock market suffered significant losses in morning trade on Thursday, August 28, after a new round of US tariffs came into effect on Wednesday, raising overall duties to 50 per cent on Indian goods exported to the US.

The benchmark Sensex crashed nearly 700 points, or 1 per cent, to hit an intraday low of 80,107.19. The NSE counterpart Nifty 50 also fell about 1 per cent to hit its intraday low of 24,514.35.

The BSE Midcap and Smallcap indices crashed by over 1 per cent each during the session.

The overall market capitalisation of BSE-listed firms dropped to nearly Rs.445 lakh crore from Rs.449 lakh crore in the previous session, making investors poorer by about Rs.4 lakh crore.

Around 9:30 AM, the Se...