Sensex falls nearly 400 points, Nifty slips below 24,800
Markets took another hit on Friday, with the Sensex falling nearly 400 points and Nifty slipping below 24,800.
Most stocks were in the red, marking six straight days of declines.
Pharma stocks take a hit
If you're tracking your investments or thinking about entering the market, this dip is a heads-up.
US President Trump's move to slap 100% tariffs on branded and patented drugs starting October 1 has rattled Indian pharma stocks—Nifty Pharma dropped over 2%, and Sun Pharma slid more than 3%.
There's also concern that future tariffs could hit India's $10 billion generic drug exports to the US.
IT and other sectors also affected
It's not just pharma—IT giants like TCS and Infosys also slipped after weak cues from global tech peers and Asian markets.
Strong US economic data has investors guessing that interest rates might stay higher for longer, adding to all-around caution.