Mumbai, Sept. 26 -- The headline equity benchmarks traded with moderate cuts after President Trump announced a 100% tariff on branded drug imports starting from 1 Oct 2025, pressuring pharma stocks despite generics being exempt.

The Nifty traded below the 24,800 level. Pharma shares extended losses for the fifth consecutive trading sessions.

At 10:30 IST, the barometer index, the S&P BSE Sensex, declined 288.20 points or 0.36% to 80,871.48. The Nifty 50 index lost 93.53 points or 0.39% to 24,797.35.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index slipped 0.72% and the S&P BSE Small-Cap index tumbled 0.99%.

The market breadth was weak. On the BSE, 1,123 shares rose and 2,545 shares fell. A total of 19...