U.S. Tariffs Shake Pharma Stocks: A Day of Declines

Pharmaceutical stocks experienced a significant drop as U.S. President Trump plans to impose heavy tariffs on pharmaceutical imports. Major companies such as Blue Jet Healthcare and Marksans Pharma witnessed sharp declines, affecting the overall BSE Healthcare index. Market experts advise caution amid potential economic headwinds.

On Wednesday, pharmaceutical stocks took a beating, with the sector witnessing notable declines following reports that the U.S. plans to implement tariffs on pharmaceutical imports. The announcement rattled shares of several key players, highlighting market concerns over increased trade barriers.

Blue Jet Healthcare led the downturn, plummeting almost 10%, while other major firms like Marksans Pharma and Glenmark Pharmaceuticals also saw significant drops. As a result, the BSE Healthcare index fell by 1.20%, closing at 39,562.52. The overall market sentiment was bearish, contributing to a 0.51% dip in the BSE Sensex.

Analysts, including Siddhartha Khemka of Motilal Oswal Financial Services Ltd, pointed to the trump administration's tariff plans as a driving factor behind the decline. Vinod Nair of Geojit Investments Ltd advised stakeholders to remain cautious, emphasizing the uncertain landscape for the pharmaceutical industry.

(With inputs from agencies.)