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Indian stocks fall as US tariff fears hit pharma

Nifty Pharma slid as much as 2.1%, after President Donald Trump proposed a 100% import tariff on non-patented medicines if production is not shifted to the US within two years.

Reported · Written up by our desk · Trade & Tariffs

India’s stock market fell on July 22 as investors priced in heightened risk from Middle East tensions and potential US tariffs affecting pharmaceuticals, LiveMint Markets reported. The Nifty 50 closed down 0.79% at 24,000, after trading at nearly a 1% decline at its intraday low.

The S&P BSE Sensex ended the session 0.92% lower at 76,732, while broader participation also weakened. Nifty Midcap 100 and Nifty Smallcap 100 both finished down more than 1%.

Sector trading showed pressure across multiple groups, led by Nifty Media, which dropped 2.63%. Nifty Realty and Nifty PSU Bank declined 2.6% and 1.8%, respectively, and other major sectoral indices like Nifty IT and Nifty Private Bank ended more than 1% lower.

In pharma, the Nifty Pharma index fell as much as 2.1% following Trump’s proposal to impose a 100% import tariff on imported generic medicines for manufacturers that do not shift non-patented drug production to the US within two years. LiveMint Markets also cited ongoing regional escalation, including fresh US strikes on Iran and missile and drone attacks by Iran on targets in Bahrain, Jordan, and Kuwait, as sentiment weighed on the market.

Latest closeSensex 76,731.06 ▼0.9%

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