India equity benchmarks set for steepest weekly drop in 3 months on renewed tariff worries

Nifty 50 .NSEI, Sensex .BSESN down 0.5% each; set for fifth session of losses

Benchmarks down about 2.3% so far this week; set for biggest weekly pct drop in more than three months

Of 16 major sectors, 12 trading lower on the day; small-caps .NIFSMCP100, mid-caps .NIFMDCP100 down 0.6% and 0.1%, respectively

U.S. tariff uncertainty weighs on sentiments as Donald Trump backs bill, authorising tariffs of up to 500% on countries buying Russian oil

Meanwhile, investors await U.S. Supreme Court ruling on legality of Trump's tariffs

Elecon Engineering ELCN.NS slumps 17% after Q3 profit drop