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Sensex Drops 700 Points, Nifty Falls Below 24,000 on Trump Pharma Tariff Fears

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Indian stock markets closed sharply lower, with the Sensex shedding over 700 points and the Nifty50 slipping below the 24,000 mark. Pharmaceutical stocks were among the hardest hit sectors, acting as a major drag on the broader indices. The sell-off followed an announcement by US President Donald Trump of a phased tariff framework targeting imported generic medicines. Under the plan, drugmakers will have a two-year transition period before steeper duties take effect. The prospect of reduced competitiveness for Indian generic drug exporters in the US market triggered the negative sentiment.

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Sensex Drops 700 Points, Nifty Falls Below 24,000 on Trump Pharma Tariff Fears · ShortSingh