Stock Market LIVE: Sensex Drops 400 Points; Nifty IT, Metal, Pharma, SMIDs Slip; Vi Plunges 7%
Stock Market LIVE: Sensex falls 400 points, Nifty IT, Pharma, Metal, and SMID indices slip; Vi drops 7% as US imposes 100% tariffs on branded pharmaceuticals. L&T, Tata Motors gain; Anand Rathi IPO sees strong subscription.
Indian stock market opens lower as Sensex drops 400 points; sectoral indices including Pharma, IT, and SMIDs slump after US tariff announcements.
For the sixth straight session, Indian markets opened weak on Friday, keeping in view the global cues and announcement of fresh tariffs by the Americans. Sector-wise, the Nifty Pharma index registered the steepest , falling over 2% following President Donald Trump's 100% tariffs on branded and patented pharmaceutical imports.
At 12 noon, the BSE Sensex stood at 80,780.28 points, down 379 points or 0.47% from its previous close, while the NSE Nifty50 was trading at 24,768.65, down 122 points, or 0.49 %.
Top Movers
Sun Pharma was the top loser, followed by Tata Steel and Tech Mahindra in trading on the BSE, whereas L&T, Tata Motors, and Maruti Suzuki were on the rise. Nifty MidCap 100 fell 1.08%, and Nifty SmallCap 100 followed it down with a 1.52% downfall.
Sector-wise movements were significant: post-media announcement of tariffs by Trump, the Nifty Pharma index plummeted; meanwhile, IT, metal, and SMID indices also witnessed considerable declines. Vi (Vodafone Idea) got hit by 7% amid uncertainties on the AGR front and delays in Supreme Court hearings.
L&T Outperforms
The stock of Larsen & Toubro (L&T) added 2.2% to touch ₹3,725 on BSE, thus outperforming the broader indices, after the Telangana government decided to acquire the L&T Group stake in the Hyderabad Metro Rail Phase 1 project. The stock is near its three-month high of ₹3,727 and up 5% in the last one month against a 0.1% rise in Sensex.
IPO Watch
The Anand Rathi Share IPO witnessed overwhelming demand, having been subscribed 20.66 times. Qualified Institutional Buyers led with a 43.8x subscription, followed by Non-Institutional Investors at 28.6x, and retail at 4.78x. The allotment is expected to be finalized on Friday, 26 September 2025.
Other Market Highlights
Supreme Petrochem jumped 4% on commencing two new ABS compounding lines to reach a peak intra-day level of ₹888 on BSE.
HAL (Hindustan Aeronautics Limited) received an MoD order of ₹62,400 crore for 97 Tejas LCA Mk1A jets, enhancing the order book and growth prospects into the long term.
The Supreme Court postponed the AGR hearing until October 6, keeping pressure on Vodafone Idea.
Global and domestic factors continue to be weighing on the market, tariffs, sectoral developments, and IPO activities setting the mood for trading.
