Overview

• President Trump announced a 100% levy on branded and patented pharmaceutical imports effective October 1, alongside 25% on heavy trucks and 50% on kitchen cabinets.
• The Sensex opened down 203.67 points at 80,956.01 and the Nifty50 started 72.3 points lower at 24,818.55.
• Pharma led declines with the Nifty Pharma index dropping over 2% as Sun Pharma fell nearly 5%, while stocks such as Titan also slipped by up to about 4%.
• Asia-Pacific shares weakened after the tariff news, with South Korea’s Kospi down about 1.9% and Japan’s Nikkei lower by roughly 0.3%, and U.S. equities extended losses on rate-cut uncertainty.
• Recent flows showed foreign portfolio investors net selling about Rs 2,425 crore as domestic institutions bought roughly Rs 1,212 crore, and market watchers flagged the potential for continued pressure from trade developments and incoming data.