Nifty 50 slips below 24,400 as pharma, banks weigh

The Nifty 50 index opened May on a cautious note, slipping 0.35 per cent to close at 24,379.60 on May 6, 2025. This decline was primarily driven by losses in the pharmaceutical and financial sectors, which overshadowed gains in auto stocks, notably Mahindra & Mahindra. The broader market sentiment was further dampened by escalating geopolitical tensions, particularly the recent military actions under 'Operation Sindoor'. What's driving the decline? Pharma sector under pressure: The pharmaceutical index dropped 1.5 per cent following US President Donald Trump's executive