INDIA STOCKS-India equity benchmarks open lower as pharma stocks slide on US tariffs
Sept 26 (Reuters) - India's equity benchmarks opened lower on Friday, driven by losses in pharmaceutical shares after U.S. President Donald Trump announced a 100% levy on branded and patented drugs.
The Nifty 50 .NSEI lost 0.29% to 24,818.55 and the BSE Sensex .BSESN shed 0.25% to 80,956.01, as of 9:15 a.m. IST.
Thirteen of the 16 major sectors opened lower. The pharma stocks .NIPHARM slipped 2.3%, with all its constituents down.
Trump on Thursday unleashed a fresh round of punishing tariffs on a broad range of imported goods, including branded and patented drugs, and heavy-duty trucks, effective October 1.
The U.S. accounts for slightly more than a third of India's pharmaceutical exports, which comprise mainly cheaper generic versions of popular drugs. Exports to the country rose 20% to about $10.5 billion in fiscal 2025.
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