IT, pharma stocks drag mkt for 6 sessions

US tariff woes, visa curb, foreign fund outflows overshadow positive domestic cues such as GST reform, GDP data

- ARSHAD KHAN NewDelhi

WEIGHED down by renewed US visa curbs, fresh tariff measures and relentless foreign fund outflows, India's equity market slumped on Friday, marking a sixth straight session of losses. IT stocks have been reeling since Washington raised the H-1B visa application fee to $100,000 per applicant and pressure has now spilled over to the pharma sector after the US imposed tariffs on branded drugs.

The benchmark index BSE Sensex fell 733.22 points or 0.9% to settle at 80,426.46 on Friday while the Nifty dropped 236.15 points or 0.95% to settle at 24,654.70. Since September 19, the Sensex has lost 2,587 points or 3.16%, while the Nifty has declined 769 points or 3%.