FX.co ★ Sensex Extends Decline Into 6th Day

India's BSE Sensex ended Friday with a decline of approximately 0.9%, settling at 80,426.5, its lowest in over two weeks. This marks the sixth consecutive day of losses for the index. The broad-based downturn was largely driven by fresh U.S. tariffs, significantly impacting pharmaceutical stocks, alongside the persistent outflow of foreign portfolio investments. President Trump announced a decision to implement a 100% tariff on branded and patented pharmaceuticals from October 1, 2025, unless these companies establish production facilities in the U.S. Additionally, a 25% tariff will be applied to large trucks. This announcement intensified investor unease, which had already been affected by a recent increase in H-1B visa fees, triggering substantial sell-offs in IT stocks. Concurrently, traders maintained a cautious stance ahead of next week's Reserve Bank of India meeting, with the prevailing expectation that interest rates will stay at 5.5%. Sun Pharma saw a decline of 2.5%, while M&M, Tata Steel, Eternal, Asian Paints, Tech Mahindra, and Infosys were among other significant decliners. Over the week, the index experienced a 2.7% drop, marking its first weekly loss in four weeks.