India's benchmarks trade lower on broad-based profit booking

India's equity benchmarks NSE Nifty 50 .NSEI and BSE Sensex .BSESN fall 0.4% each on broad-based profit booking

Cannot rule out consolidation and profit-taking after the recent rally, especially with developments regarding tariffs and geopolitical tensions still on the radar - Ajit Mishra, senior vice president of research at Religare Broking

Nifty gained 7.2% over last 13 sessions, buoyed by foreign inflows worth $4.82 billion

On the day, 11 of 13 sectors down; broader small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 decline 1.4% each.

Pharma index .NIPHARM loses 1% after U.S. President Donald Trump signs order to boost domestic manufacturing

Indian drugmakers could face pressure on margins due to higher costs for U.S. FDA inspections, and pressure on export demand due to higher competition from U.S. manufacturers, two analysts say

Financials .NIFTYFIN drop 0.7%, Reliance Industries RELI.NS slips 1%

Mahindra and Mahindra MAHM.NS rises 2% on positive commentary by multiple brokerages on future earnings outlook