Reason: U.S. President Donald Trump signed an executive order to boost domestic drug manufacturing in the U.S.
This raised concerns over possible restrictions on Indian pharmaceutical exports, leading to stock market jitters.
Nifty Pharma Index dropped by 1.4%.
Lupin: fell over 3%
Aurobindo Pharma: fell over 3%
Cipla: dropped over 2%
Sun Pharma: down 1.9%
Biocon: slipped 0.3%
Trump warned of imposing 100% tariffs on films made outside the U.S..
He posted on TruthOut saying the American film industry is “dying”, and that other countries are offering incentives to lure studios away from the U.S.
BSE Sensex dropped 100 points to 80,696.44
NSE Nifty fell 40 points to 24,421
Top losers: Titan, Sun Pharma, Reliance Industries, Kotak Bank
Gainers: Mahindra & Mahindra, Airtel, Nestle, Hindustan Unilever, Tata Steel
This announcement isn’t just political—it could be a serious concern for Indian exporters and investors depending heavily on U.S. markets.