Mumbai

Benchmark stock indices Sensex and Nifty tumbled nearly 1% on Friday, marking their sixth consecutive day of decline, following heavy selling in pharma and IT shares as US President announced 100% duties on branded drugs from next month.

The Sensex tanked 733 points or 0.9% to settle at 80,426. The Nifty tumbled 236 points or 0.95% to an over three-week low of 24,655. The index has been on a decline since September 19, tanking over 3% in six straight sessions. Sensex has tumbled by 2,588 points or 3.16% in six sessions to Friday.

“Indian equities ended sharply lower after the US announced tariff on imports of pharma products effective October 1. The unexpected move rattled already fragile investor sentiment, which was still digesting the recent hike in H-1B visa fees,” Ponmudi R,

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