
New Delhi:
Stock Market Opening Bell: Indian market opened today i.e. February 19. The Sensex and Nifty are trading in red mark due to uncertainty in the global market and the US President Donald Trump’s new tariff (Trump Tariff) statement.
Market condition in pre-opening session
This morning at 9:13 am, the BSE Sensex declined by 180.12 points (0.24%) at 75,787.27. While the Nifty 50 (NIFTY 50) was at 22,847.25 below 98.05 points (0.43%).
Sell in early trade
The market declined further at 9:21 am. The Sensex fell 300.67 points (0.40%) to 75,666.72. Nifty was trading at 22,861.70.
Which sectors decline and boom?
In early trade, Pharma, IT (IT), FMCG, Auto sector saw a decline of 0.5% to 2%.
Top Louquars and Gainers
NTPC, SBI, Tata Steel, Hero Motocorp saw a boom. While Dr. Reddy’s Labs, Cipla, Sun Pharma, Mahindra & Mahindra (M&M), TCS were included in the list of declining stocks.
Trump’s statement affects pharma sector
US President Donald Trump has announced to increase the 25% tariff, which may be applicable from April 2. This tariff will be applied on important drugs, cars and semiconductor chips. Indian pharma companies can be the most affected by this decision. It is showing a direct impact on shares of Dr. Reddy, Lupin, Cipla and Zydus.
Low on auto sector, big impact on pharma sector
According to SBI Research data, the car export from India to America is only 0.2%, so its effect on the auto sector will be very less.
Currently, India imposes 10% tariffs on medicines coming from America, but America does not impose any tariff on medicines imported from India. If Trump puts 10% tariffs on Indian medicines, it can affect the earnings of companies like Dr. Reddy’s Labs, Lupin. It may seem, because Indian pharmaceutical companies send 38% of their total exports to America.
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