INDIA STOCKS-Indian shares fall as Trump slaps new tariffs on metal imports

Updates for morning trade

By Bharath Rajeswaran and Vivek Kumar M

Feb 10 (Reuters) - Metal stocks led losses in Indian shares on Monday after President Donald Trump said he would impose new tariffs on all steel and aluminum imports into the U.S., in addition to further reciprocal tariffs.

The Nifty 50 .NSEI was down 0.75% at 23,385.75 as of 10:14 a.m. IST, while the BSE Sensex .BSESN shed 0.75% to 77,285.48.

Twelve of the 13 major sectors declined. The more domestically focussed smallcaps .NIFSMCP100 and midcaps .NIFMDCP100 fell about 1% each.

The metals index .NIFTYMET declined 3% after the U.S. president said on Sunday that he would impose 25% duties on steel and aluminium imports, on top of existing metals levies, along with reciprocal tariffs on all countries to match their tariffs.

Tata Steel TISC.NS and JSW Steel JSTL.NS fell about 4% each, topping the list of Nifty 50 laggards.

Private lender HDFC Bank HDBK.NS and oil-to-telecom conglomerate Reliance Industries RELI.NS, the two heaviest stocks on the Nifty 50, lost about 1 and 1.5%, respectively.

The risk of fresh U.S. tariffs also fuelled losses in the rupee, which dropped to a lifetime low on Monday.

"Investors are worried about the uncertainty induced by frequent shifts in policy of the U.S. government regarding tariffs," said Shrikant Chouhan, head of equity research at Kotak Securities.

Lacklustre third-quarter earnings and uninspiring management commentary have also weighed on investor sentiment, Chouhan said.

Among individual stocks, state-run explorer Oil India OILI.NS fell 4% after reporting third-quarter profit that missed analyst estimates as lower selling prices weighed.

Shipping Corporation of India SCI.NS lost 5.5% after posting a lower December-quarter profit.

Water treatment plant maker VA Tech Wabag VATE.NS rose 5.3% after winning an order worth $364 million and posting a higher quarterly profit.

($1 = 87.9010 Indian rupees)