Following the Trump administration in the US slapping 100 per cent tariffs on branded or patented pharmaceutical products effective October 1, pharma stocks led by Sun Pharma tanked.
The Mumbai-headquartered medical manufacturer is a Sensex component. Sun Pharma was the biggest loser in the 30-pack index in Friday trade so far.
The benchmark index slid as much as 451 points to a low of 80,704.34 in the morning.
The Nifty also slumped, shedding around 131 points to a 24,759 low in early trading on Friday.
Other Sensex laggards were Asian Paints, Tech Mahindra, Infosys, Power Grid, HCL Tech, and Tata Steel.
[Story is being updated]
Disclaimer: Comments posted here are the sole responsibility of the user and do not reflect the views of THE WEEK. Obscene or offensive remarks against any person, religion, community or nation are punishable under IT rules and may invite legal action.
