Auto, pharma stocks extend rout as Trump’s tariff plan spooks investors

Indian auto and pharma stocks fell on Friday amid fears of a 25% U.S. tariff on auto imports. The Nifty Auto and Pharma indices dropped by 0.8% and 0.9%, respectively. However, experts suggest the market's resilience is supported by foreign institutional investors' buying. Broader Indian markets remain strong despite the sector-specific declines, with strong FPI inflows.