Pharma stocks sharply tumble as Trump has imposed 100% tariff on pharmaceuticals
Pharma Stocks: Donald Trump announced tariffs on several sectors, including pharmaceuticals, late Thursday night. The 100% tariff announced on pharmaceuticals is being felt today, and the impact is being felt on the Indian stock market. The Sensex fell 412.67 points to 80,747.01, and the Nifty fell 115 points to 24,776.
Pharma stocks, which have significant exposure to the US, have also fallen sharply.
Also Read: Trump100% Tariff on Pharma: What This Means for India’s Drug Manufacturers Companies
Following the Trump tariff announcement, five Indian pharmaceutical stocks, including Aurobindo, Lupin, DRL, Sun, and Biocon, have fallen sharply. Arvindo Pharma fell 1.91% today to trade at ₹1,076. Lupin shares fell nearly 3%, trading at ₹1,918.60.
Trump's announcement sent the Indian market into a tailspin
Sun Pharma shares fell 3.8% to trade at ₹1,580. Cipla shares fell 2%. Strides Pharma Science fell 6%, Natco Pharma 5%, Biocon 4%, Gla Pharma 3.7%, Divilab 3%, IPCA Labs 2.5%, and Zydus Life 2%. Mankind Pharma also fell 3.30%.
Also Read: H-1B Visa: Will Indian students studying in the US have to pay 8.8 million for a job?
Among the BSE top 30 stocks, Sun Pharma saw the biggest decline, falling 3.8%. This was followed by 25 stocks, including Infosys, Tech Mahindra, and Asian Paints, which fell up to 2%. The remaining 5 stocks are rising.
These sectors are under heavy pressure
Following the tariff announcement, the pharmaceutical sector is experiencing the greatest pressure today. This sector has fallen by 1.80 percent. Furthermore, due to H-1B visa issues, the IT sector is trading down by 1.30 percent and the healthcare sector is trading down by 1.50 percent.
88 stocks at 52-week lows
Out of 3,073 stocks on the BSE, 864 are rising, while 2,062 are falling. 147 stocks are showing no action. 76 stocks are in upper circuit and 65 in lower circuit. 88 stocks are trading at 52-week lows.
Investors are facing heavy losses
Investors are facing heavy losses today due to the decline in the stock market. The BSE market capitalization is now at ₹454 lakh crore today, compared to ₹457 lakh crore yesterday. This means investors have lost approximately ₹3 lakh crore.
.