Indian equities crashed on Friday after the US. President Donald Trump introduced steep tariffs of as much as 100% on branded and patented drug imports beginning October 1.
The Sensex tumbled over 800 factors intraday earlier than settling at 80,426, down 733 factors. The Nifty50 slipped 236 factors to shut at 24,654, seeing a fall of 0.95%.
Listed below are the highest elements that dragged markets decrease:
Pharma sector in ache
Nifty Pharma plunged over 2% with Laurus Labs, Biocon, Zydus, and Natco Pharma down as much as 7%.
Weak world cues
Asian markets mirrored the sell-off; Nikkei fell 0.9%, Cling Seng dropped 1.4%.
FII stress
International traders offered practically ₹5,000 crore on Thursday, pushing September outflows above ₹13,000 crore.
Rupee underneath pressure
The INR ended at 88.66 towards the greenback, near report lows.
Shift to secure havens
Buyers turned to bullion, with gold up 47% and silver up 58% to date this yr.
That’s all for at this time’s market wrap. Keep tuned to ET Markets Radio for extra updates and insights. See you in our subsequent episode on Monday.
