The Indian stock market ended the week with a massive sell-off, marking its sixth consecutive day of losses. A fresh round of tariff threats from the U.S., this time targeting the pharmaceutical sector, triggered panic selling and dragged the benchmark indices sharply lower. All sectoral indices ended in the red, with the carnage being particularly severe in the IT, pharma, banking, and metal sectors.
The S&P BSE Sensex plummeted 733.22 points (0.90%) to close at 80,426.46. The NSE Nifty 50 also saw a steep decline, falling 236.15 points (0.95%) to end the week at 24,654.70, its lowest level in recent sessions.
Key Market Highlights
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Sensex: Closed at 80,426.46, down by 733 points.
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Nifty 50: Ended the session below the crucial 24,700 mark.
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Market Sentiment: Strong selling pressure and cautious sentiment dominated the day. Two key factors fueled the decline: a new tariff threat from the U.S. and weak demand signals from Accenture's quarterly results, which continued to hurt IT stocks.
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Broader Markets: The sell-off was widespread, with the Nifty Midcap 100 and Nifty Smallcap 100 indices both plunging by 2% each.
The Big Story: Trump's Pharma Tariffs Spook the Market
The primary trigger for today's sharp fall was U.S. President Donald Trump's announcement of a 100% levy on branded and patented drugs imported from India. This unexpected move sent shockwaves through the pharmaceutical sector, which is heavily reliant on exports to the U.S. The news led to a sharp sell-off in pharma stocks, with the Nifty Pharma index becoming one of the top losers.
This development, coupled with the lingering impact of the H-1B visa fee hike and weak IT sentiment, created a perfect storm for the market.
Top Gainers and Losers
Only a handful of stocks managed to end in the green, while the losers' list was dominated by pharma, IT, and financial heavyweights.
| Top Gainers |
Top Losers |
| Tata Motors |
Mahindra & Mahindra (M&M) |
| Larsen & Toubro (L&T) |
Sun Pharma |
| ITC |
IndusInd Bank |
| Eicher Motors |
Tata Steel |
| Reliance Industries |
Eternal |
Sectoral Performance
It was a sea of red on the sectoral front, with all major indices closing with significant losses.
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Top Losers: The Nifty IT index was the biggest laggard, falling by 2.42%. It was closely followed by the Nifty India Defence index (down 2.28%) and the Nifty Pharma index (down 2.22%). The Bank, Capital Goods, Metal, and PSU Bank indices also declined by 1-2% each.
Major News and Stock-Specific Action
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Tata Motors Gains on JLR Update: Tata Motors was a rare gainer among large-cap stocks, rising 2%. The stock recovered after its subsidiary, Jaguar Land Rover (JLR), announced that it had restored some of the systems affected by a recent cyberattack.
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Jewellery Stocks Fall: Stocks of jewellery companies, including Titan, Senco Gold, and PC Jeweller, fell by up to 10% as gold prices hovered near record highs, raising concerns about a potential slowdown in demand.
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Waaree Energies Plunges: Shares of Waaree Energies continued their decline, plunging 8% after the U.S. initiated a probe into suspected tariff evasion by solar panel manufacturers.
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Carysil Tanks on Tariff News: Shares of kitchen equipment manufacturer Carysil fell 10% after the U.S. announced a 50% tariff on kitchen equipment imports.
Global Market Summary
Global markets were shaky as U.S. tariff announcements and stronger-than-expected economic data from the U.S. led traders to scale back bets on sharp Federal Reserve rate cuts.
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Asian & European Markets: Asian markets closed lower, rattled by the new U.S. tariffs. European stocks opened higher but remained cautious.
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Currency & FIIs: The Indian rupee continued to weaken, closing near the record low of 88.70 against the U.S. dollar. Foreign Institutional Investors (FIIs) remained net sellers for the fourth straight day, adding to the downward pressure.
Frequently Asked Questions (FAQs)
Why did the market fall so sharply today?
The market's sharp decline was primarily triggered by U.S. President Donald Trump's announcement of a 100% tariff on branded and patented drugs from India. This, combined with weak sentiment in the IT sector and continued FII selling, led to a panic-like situation.
Which sectors were the most affected?
The Nifty IT, Pharma, and Defence indices were the worst performers, each falling by over 2%. All sectoral indices ended the day in the red.
Was there any positive news in the market today?
Tata Motors was a notable gainer, rising 2% after its subsidiary, JLR, provided a positive update on the restoration of systems following a cyberattack.
What is the current global market sentiment?
Global market sentiment is cautious and uncertain. Fresh U.S. tariffs and strong economic data have reduced expectations of aggressive interest rate cuts by the Federal Reserve, leading to volatility in stock and currency markets.