Stock market ends sharply lower over US pharma tariffs, Nifty below 24,700
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Indian equity markets closed the week with losses on Friday, influenced by global market weakness and new US tariffs targeting pharmaceutical imports. The Nifty Pharma index plunged 470 points (2.14%).
The Sensex finished at 80,426.46, down 733.22 points (0.90%) after opening lower at 80,956.01. The index extended losses throughout the session, reaching an intraday low of 80,332.41.
Nifty 50 closed at 24,654.70, declining 236.15 points (0.95%).
Market observers noted the sharp selloff mirrored broader Asian declines. “The pharmaceutical sector was particularly hard hit by new tariffs, dragging down healthcare stocks,” analysts commented.
Investors are maintaining cautious positions, focusing on domestic consumption and investment cycles amid global uncertainty.
Most Sensex components declined, including Mahindra & Mahindra, Tata Steel, and major IT stocks. L&T and Tata Motors were among the few gainers.
All sectoral indices closed lower except for select pockets. Nifty IT fell 846 points (2.45%), Nifty Auto declined 273 points (1.02%), and Nifty Bank dropped 586 points (1.07%).
The broader market extended losses with Nifty Midcap 100 sinking 1,177 points (2.05%) and Nifty Smallcap 100 declining 405 points (2.26%).
(With inputs from IANS)
