India’s benchmark indices slipped to the day’s low alongside its Asian peers as traders were caught off guard by US President Donald Trump’s renewed tariff plans on Mexico and Canada.

The fall in the benchmark indices was led by Reliance Indsutries Ltd., ICICI Bank Ltd. and HDFC Bank Ltd. Meanwhile, Trent Ltd., Bajaj Finance Ltd. and Maruti Suzuki Ltd. also plunged in trade.

The S&P BSE Sensex Index was down 610 points, or 0.8%, at 76,430 while the NSE Nifty 50 was 160 points or 0.69% higher at 23,177, as of 10:22 a.m.

Trump held off from using executive orders to impose higher global tariffs in his inauguration. He plans to issue a memorandum that directs federal agencies to study existing trade policies and relationships with China, Canada and Mexico, the Wall Street Journal reported. 

Stocks in China fluctuated after the president opted against announcing any new Chinese tariffs on his first day in office.