The stock market began trading for the third consecutive day of decline. The Sensex and Nifty indices opened in negative territory. The BSE Sensex traded with a fall of more than 550 points from a level above 550, while the Nifty National Stock Exchange also plunged by more than 150 points immediately after the market opened.
On Wednesday, when trading began on the stock market, the BSE Sensex opened at 77,384, which was lower than the previous close of 77,470. Within minutes of trading, it fell by more than 575 points, reaching the mark of 76,851.
The situation with the NSE Nifty was similar. This index of 50 stocks opened with a slight decrease to 24,150 compared to Tuesday's close at 24,187, but then the rate of decline sharply increased, and it traded around 24,011, losing approximately 170 points.
Against the backdrop of a general market downturn, pharmaceutical company stocks appeared unstable, and many of them started trading in negative territory. The fall in large pharma company stocks attracted the attention of investors.
The decline in pharmaceutical stocks is directly related to events in the USA. US President Donald Trump announced the introduction of tariffs on generic drugs, setting the rate at up to 200% on the import of these medications into America (Trump 200% Tariff Bomb).
However, Trump clarified that for two years, starting from August 1, 2026, all these medicines will be subject to a zero tariff rate. After this period, the tariff will gradually increase: first to 100% within one year, and then to 200%.
Despite the relief provided by the two-year zero tariff, concerns about the introduction of a 200% tariff in two years became evident to Indian pharmaceutical companies, which triggered the drop in their stocks.
