New Delhi, Sept. 22 -- The Indian stock market closed Monday's session lower, dragged down by a sharp sell-off in tech and pharma stocks. The decline came after the U.S. introduced a new fee structure for fresh H-1B visa applications, which weighed heavily on frontline indices and offset the positive sentiment from the implementation of new GST rates.

The Nifty 50 finished the session 0.50% lower at 25,201, while the S&P BSE Sensex lost 0.56% to settle at 82,159. The broader markets also drifted lower, with the Nifty Midcap 100 and Nifty Smallcap 100 dropping 0.60% and 1.11%, respectively.

The Donald Trump administration on Friday increased the fee for H-1B visas to USD 100,000 from USD 1,000, a steep hike expected to impact the Indian ...