Indian markets slip as crude oil jumps, rupee ₹96.36
Business
Indian stock markets slipped on Wednesday morning, with Nifty down 0.41% and Sensex off by 0.5%, after crude oil prices jumped to more than a five-week high.
The rupee also lost ground against the US dollar, trading at ₹96.36 early in the day.
Pharma down 1.6% after Trump tariffs
Losses were seen across most sectors, but pharma took the biggest hit (dropping 1.6%) after US President Trump announced phased tariffs on imported generic medicines, raising concerns for drugmakers worldwide.
With tensions rising in the Middle East and oil prices up, investors are keeping a close eye on possible supply chain disruptions and higher costs ahead.