Indian stock markets continued to be under pressure - Nifty down 0.28%, Sensex down 242 points - but outliers stand firm. Nifty Pharma outperformed general market, up 0.98% vs Nifty 50 down.
Akash Mundra reports: Global headwinds - Trump tariffs on steel, aluminium, plus Fed hawkishness, plus elevated crude oil prices, plus absence of Al-driven rally in India - dragged indices. Foreign institutional investors sold Rs 2,000 crore, fourth consecutive day.
Read more - Gold, Silver Crash
But pharma shone. Sun Pharma, Cipla, Gland Pharma gained on US generic approval hopes, and because pharma is exempt from Trump tariffs under essential goods. Nifty Pharma has gained 12% in past three months, while Nifty IT fell 8%.
Pharmaceutical players, diagnostics and CDMO players are beneficiaries of China-plus-one. With US Biosecure Act banning Chinese pharma ingredients, Indian API makers benefit. The BSE Healthcare index is at record high.
Read more - Sluggishness in Stock Market
Must cut energy import reliance, says economist Siddharth Upasana. India imports 85% oil, so crude at $92 hits fiscal. But pharma shows domestic consumption + export resilience can shield.
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