Pharma and IT sectors struggle despite rupee depreciation
The rupee fell to ₹91.78 against the dollar, impacting IT and pharma sectors. Despite a 7.1% decline since April, the Nifty IT index rose 5% and Nifty Pharma 3%, but tariff concerns limit further gains.
after close1 source ↓written by the desknot a recommendation
- against the dollar
- ₹91.97
- after six weeks
- ₹91.78
- drop since April
- 7.1%
- index rose only
- 5%
- Nifty Pharma gained
- 3%
A weaker rupee has historically boosted shares in the export-heavy IT and pharma sectors, but this time, concerns over tariffs are overshadowing potential gains. The rupee fell to a record low of ₹91.97 against the dollar, closing at ₹91.78 after six weeks of decline.
Despite the rupee's 7.1% drop since April 1, 2025, the Nifty IT index rose only 5%, while the Nifty Pharma gained 3%. Investors remain cautious amid tariff uncertainties, limiting upside potential in these sectors.
Not investment advice. For informational purposes only.