Pharma Stocks Drag Markets Lower Amid US Trade Tensions

Indian equities extended losses in afternoon trading as pharmaceutical stocks bore the brunt of investor concerns over potential US trade restrictions. The Sensex fell 0.44% to 80,830.96 while the Nifty 50 dropped 0.54% to 24,633.95, with SUN Pharma leading declines at a 4.45% plunge.

Sector-wide selling hit drugmakers particularly hard, reflecting market anxiety about renewed trade tensions. Dr. Reddy's Laboratories and Cipla joined the retreat, falling 4.11% and 3.22% respectively. Commodity-sensitive sectors like steel and energy also weakened, with Tata Steel and ONGC both shedding over 2%.

Select consumer and auto stocks provided pockets of resilience. Trent surged 2.78% while Eicher Motors gained 2.62%, demonstrating the market's bifurcated response to macroeconomic headwinds. The divergence highlights how trade policy uncertainties are reshaping sectoral allocations.