Mumbai, Sept. 26 -- The headline equity benchmarks traded with major losses in the mid-afternoon trade after U.S. President Donald Trump announced a 100% tariff on branded drug imports starting from 1 Oct 2025, pressuring pharma stocks despite generics being exempt. The Nifty slipped below the 24,650 mark.

PSU Bank shares declined for the third consecutive trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex slipped 773.05 points or 0.94% to 80,382.40. The Nifty 50 index lost 239.65 points or 0.97% to 24,652.25.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 1.86% and the S&P BSE Small-Cap index declined 2.13%.

The market breadth was weak. On the BSE, 891 shares rose and 3166 ...