Pharma Stocks Plummet Amid US Tariff Concerns
Pharmaceutical stocks faced a significant downturn as investors reacted to potential US tariffs on pharma imports. Leading stocks dropped with notable declines in shares of Sigachi Industries, Shilpa Medicare, and others. The BSE Healthcare index fell by 1.82%, and major benchmarks Sensex and Nifty also registered losses.
- Country:
- India
On Tuesday, pharmaceutical stocks encountered selling pressure as investors reacted to reports of potential US tariffs on pharma imports.
Significant declines were observed with Sigachi Industries, Shilpa Medicare, and Suven Life Sciences leading the losses. The BSE Healthcare index fell by 1.82% amid these tariff fears.
Siddhartha Khemka from Motilal Oswal Financial Services noted that media reports on US tariffs would continue to impact Indian pharma stocks negatively, leading to broader market declines.
(With inputs from agencies.)
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