Sensex tumbled over 750 pts to trade below the 80,400 level, meanwhile, the Nifty50 fell over 200 pts to slip below 24,700 level.
Here are top factors behind the market fall:
1) Trump tariff on pharma sector
Indian pharma stocks declined on Friday after investors reacted to U.S. President Donald Trump’s move to impose a 100% tariff on branded and patented drugs.
Sector gauge Nifty Pharma tanked 590 points or 2.7% hitting the day’s low of 21,390.25. In the 20-stock index, 17 were losers while just three managed to trade in the green. Laurus Labs, Biocon, Zydus Lifesciences, and Natco Pharma were among the major losers, falling up to 7%.
2) Global markets in red
Asian markets traded deep in the red on Friday, with broad-based selling across major indices. Japan’s Nikkei slipped 0.9%, Hong Kong’s Hang Seng dropped 1.4%, and China’s Shanghai Composite was down 0.7% around 2:12 pm IST.
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