Indian pharma stocks jump as US tariffs exempts sector

India's Nifty pharma index .NIPHARM jumps 4.4% after U.S. President Donald Trump exempted the sector from reciprocal tariffs for now

Index constituents Dr. Reddy's REDY.NS, Cipla CIPL.NS, Sun Pharma SUN.NS, Gland Pharma GLAD.NS jump 6.1%, 4.1%, 4.1% and 11.7%, respectively

Trump imposed 26% reciprocal tariffs on Indian imports as part of his wider plan to levy a 10% baseline tariff on all imports from April 5, but the duties do not apply to certain goods, including pharmaceuticals

U.S. imports nearly a third of Indian pharma products sold overseas

19 of the 20 index constituents trading higher on the day, benchmark Nifty 50 .NSEI trading 0.45% lower