Sensex Extends Losses but Set for Monthly Gain
Indian equities fell 274 points, or 0.3%, to 80,885 in morning trade on Friday, marking a sixth consecutive session of losses and the lowest level in over two weeks. The decline followed renewed concerns over US trade policy, after President Donald Trump announced a 100% tariff on branded drugs and a 25% levy on heavy-duty trucks. All sectors traded in the red, led by pharmaceuticals, which dropped 1.4%, with Sun Pharmaceuticals plunging 2.4%. Markets were also cautious ahead of the RBI monetary policy meeting next week, with widespread expectations that the central bank will hold the benchmark interest rate at 5.5%. Other major decliners included Infosys (-1.6%), Asian Paints (-1.4%), Tech Mahindra (-1.3%), and HCL Technologies (-1.2%). However, despite recent losses, the index is on track for a 1.3% monthly gain, which would mark the first monthly increase in three months, supported by optimism over GST reforms.