The market is down today mainly due to several interrelated factors:

• The US President Donald Trump announced a 100% tariff on branded and patented pharmaceutical products imported into the US starting October 1, 2025. This tariff caused a sharp decline in Indian pharma stocks, dragging down the overall market sentiment significantly.

• Foreign institutional investors (FIIs) continued to sell off equities heavily, withdrawing substantial capital due to concerns over rising US bond yields and expensive valuations, which exacerbated downward pressure on the market.

• Weak demand signals from key IT companies like Accenture, indicated by poor quarterly results, led to sharp losses in the IT sector, which is a major market component.

• The Indian rupee hovered near record lows against a weakening US dollar, adding to market concerns.

• Global market cues are negative as well, with Asian markets and major global indices trading lower, influenced by trade tensions, geopolitical risks including Russia-Ukraine conflict escalation, and higher commodity prices like crude oil.

• The market has been down for multiple consecutive sessions, reflecting a broad-based sell-off across sectors, with the pharma and IT sectors among the worst hit, leading to a loss of investor confidence and declining market breadth.

In summary, today's market decline is primarily driven by the US tariff on pharma imports, foreign capital outflows, weak sectoral corporate results, currency weakness, and global economic uncertainties.