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Sensex falls over 700 points today
Times of India··22 Jul
BSE Sensex ended at 76755.05, down 715 points or 0.92 percent, while Nifty50 closed at 23996.25, down 191 points on July 22. The broad selloff erased nearly Rs 4.25 lakh crore in combined BSE market capitalisation. Pharmaceutical stocks were among the biggest drags after President Donald Trump announced a phased tariff framework for imported generic medicines.
Prism
What It Means For You
- If you hold mutual funds or stocks, your portfolio may have lost value on Wednesday's selloff.
- Pharma investors face fresh uncertainty after Trump's phased generic drug tariff plan.
- A weaker rupee and costlier crude can raise import bills and inflation for households.
What's Happening
- Sensex fell 715 points to 76755 and Nifty closed below 24000 at 23996 on July 22.
- The selloff erased about Rs 4.25 lakh crore in BSE market capitalisation in one session.
- Pharma stocks led declines after Trump announced phased tariffs on imported generic medicines.
Global Risks Hit Indian Equities
- Brent crude traded above USD 92 amid US-Iran tensions and Middle East shipping risks.
- The rupee opened 11 paise weaker at 96.36 as investors sought safe-haven assets.
- US Treasury yields rose, making fixed income more attractive relative to equities globally.
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