Business
Sensex, Nifty open lower over Trump’s tariffs on pharma imports
Mumbai, Sep 26: The Indian benchmark indices opened lower on Friday, following US President Donald Trump’s announcement of tariffs on pharma imports and sustained selling by foreign institutional investors.
As of 9.25 am, Sensex was down 388 points, or 0.48 per cent at 80,771 and Nifty was down 119 points, or 0.48 per cent at 24,771.
Shares of Indian and other Asian pharmaceutical companies fell after Trump announced tariffs of up to 100 per cent on imports of branded and patented pharmaceutical drugs, starting October 1, 2025.
Apart from drugs, President Trump announced a 50 per cent duty on imports of kitchen cabinets and bathroom vanities, 30 per cent on upholstered furniture, and 25 per cent on heavy trucks.
America is India’s largest export market for pharmaceutical goods, absorbing 31 per cent of the country’s pharma exports.
Analysts said that India, as an exporter of generic drugs, is unlikely to be affected by Trump’s actions; however, they noted that a sentimental impact on pharmaceutical stocks is likely, since the US President may target generic drugs next.
The broad cap indices, Nifty Midcap 100 and Nifty Smallcap 100, dipped by 0.18 and 0.20 per cent, respectively. Cipla, Dr Reddy’s Labs, Titan Company, Asian Paints and Bajaj Finance were among major losers on the Nifty, while gainers were L&T, Hero MotoCorp, Hindalco, Tata Steel and ONGC.
Among sectoral indices, Nifty pharma, the top loser, lost 2.39 per cent. Nifty PSU Bank (down 1.11 per cent) and Nifty Healthcare Index (down 2.20 per cent) were other major losers.
On the technical front, Nifty decisively closed below the 25,000 mark, signalling a growing downside bias. Resistance is now placed around 25,000–25,050, while immediate support is seen near 24,700–24,750 zone.
The US markets ended in the red zone overnight, as Nasdaq dipped 0.50 per cent, the S&P 500 dropped 0.50 per cent, and the Dow lost 0.38 per cent in the last trading session.
All the Asian markets were trading in the red during the morning session. While China’s Shanghai index lost 0.18 per cent, and Shenzhen dropped 0.79 per cent, Japan’s Nikkei declined 0.43 per cent, while Hong Kong’s Hang Seng Index dipped 0.79 per cent. South Korea’s Kospi lost 2.52 per cent.
Market participants said that the global backdrop is turning more challenging as the US economy edges toward stagflation, with growth momentum slowing, unemployment inching higher, and inflation trending upward from its trough.
On Thursday, foreign institutional investors (FIIs) sold equities worth Rs 4,995 crore, while domestic institutional investors (DIIs) were net buyers of equities worth Rs 5,000 crore.
Business
Customs duty on gold, silver, platinum tops Rs 10,460 crore since duty hike

New Delhi : The government has collected Rs 10,463 crore in customs duty from imports of gold, silver and platinum between May 13 and August 2 following the increase in import duties on the precious metals, Parliament was informed on Monday.
In a written reply to a question in the Lok Sabha, Minister of State for Finance Pankaj Chaudhary said customs duty collections during the period stood at Rs 10,040 crore on gold, Rs 328 crore on silver and Rs 95 crore on platinum.
The combined customs duty collection from the three precious metals thus amounted to Rs 10,463 crore during the period.
With effect from May 13, the government had increased the import duty on gold and silver to 15 per cent from 6 per cent, while the duty on platinum was raised to 15.4 per cent from 6.4 per cent.
Moreover, consequential changes were also made to duties on related items, including gold and silver dore, coins and findings.
Chaudhary said the government had taken the decision to curb discretionary imports and prioritise foreign exchange for essential imports such as crude oil, fertilisers, industrial raw materials and capital goods.
The duty hike came against the backdrop of rising global uncertainties, including the conflict in West Asia and the effective blockade of the Strait of Hormuz, which had pushed up prices of crude oil as well as food and fertiliser imports.
The minister also informed the House that enforcement agencies seized 161 kg of smuggled gold and arrested 116 persons between May 13 and June 30.
India is the world’s second-largest consumer of gold after China with imports largely driven by demand from the jewellery sector.
Gold imports account for a significant outflow of foreign exchange and are closely monitored by policymakers from a balance-of-payments perspective.
Business
TRAI mandates 1601-series numbers for service calls from utilities, logistics firms

New Delhi : The Telecom Regulatory Authority of India (TRAI) on Monday directed telecom operators to begin onboarding entities from select non-financial sectors onto the new 1601-series numbering framework for transactional and service voice calls extending a system already in use by the banking, financial services and insurance (BFSI) sector.
After this decision, consumers can identify genuine service and transactional calls and curb impersonation and fraud carried out through regular 10-digit mobile numbers.
In addition, TRAI said it has issued directions on the use of the 1601-series numbers for entities in sectors other than BFSI and government organisations which currently use the 1600-series numbering framework.
The authority also noted that the widespread adoption of 1600-series numbers by BFSI entities has provided valuable operational experience for expanding the trusted numbering framework to other sectors.
Under the first phase of implementation, the 1601-series will be allotted to entities in the utilities sector, including electricity distribution companies, water utilities, city gas distribution companies, LPG distributors and other utility service providers.
The logistics and courier sector has also been included in Phase-I, covering courier companies, express logistics firms, parcel delivery service providers as well as freight and logistics operators involved in consignments delivery.
TRAI said the Department of Telecommunications (DoT) has allocated the 1601-series for such calls and telecom service providers (TSPs) have been directed to complete migration and onboarding of eligible entities covered under Phase-I within 90 days from the date of the order.
The regulator further noted that 1601-series numbers would be allocated directly to eligible entities rather than intermediaries or aggregators following verification by telecom operators.
“The distinct numbering identity will enable the consumers to easily identify legitimate service and transactional calls, thereby strengthening trust in such voice-based communications,” the regulator said.
Additionally, TRAI clarified that the 1601-series numbers cannot be used for promotional voice calls by any entity.
Business
Centre’s expenditure on 1,847 big infra projects touches Rs 21.97 lakh crore

New Delhi: The expenditure on India’s 1,847 major infrastructure projects, currently being implemented by the Centre, has reached Rs 21.97 lakh crore (as of June 2026), which represents over 54 per cent of the total investment of Rs 40.54 lakh crore earmarked for these mega projects, reflecting steady progress in the pace of work, according to a factsheet issued by the government on Monday.
Many projects have reached advanced stages of completion, with around 709 projects exceeding 80 per cent physical progress, while another 337 projects have passed 80 per cent of financial completion, the factsheet states.
The transport and logistics sector leads with the 1,341 projects worth Rs 22.32 lakh crore, reflecting the focus on connectivity.
These projects are playing a crucial role in pushing up the country’s economic growth rate and creating more jobs.
Efficient monitoring of infrastructure projects is being carried out through PAIMANA (Project Assessment, Infrastructure Monitoring and Analytics for Nation-Building) digital platform. Developed by the Ministry of Statistics and Programme Implementation (MoSPI), PAIMANA is used for monitoring ongoing Central Sector infrastructure projects costing Rs 150 crore or more.
In addition to strengthening project monitoring, PAIMANA has expanded its role to support infrastructure performance monitoring through a dedicated Performance Monitoring Dashboard which was launched on April 16, 2026.
The Performance Monitoring Dashboard brings together performance indicators across key infrastructure sectors in a unified digital platform. The indicators are compiled from official data provided by the concerned Ministries and Departments and are updated periodically based on the latest available information.
A detailed indicator framework spans six infrastructure sub-sectors. These are Power, Civil Aviation, Telecommunications, Railways, Roads, and Ports, Shipping and Waterways.
The Performance Monitoring Dashboard has now been expanded to 165 indicators. This expansion includes the addition of 54 new indicators, significantly enhancing the comprehensiveness of infrastructure performance monitoring.
A single digital interface allows monitoring of performance sector by sector. It offers interactive visualisation and time-series analysis for policymakers, researchers and stakeholders.
A centralised dashboard delivers one cross-sector view of infrastructure sectors. This capability deepens inter-sectoral analysis.
The current framework gauges sectoral performance through growth rates. It reviews year-on-year, month-on-month and cumulative growth, targets and capacity utilisation in chosen sectors, the official statement added.
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