Author: Nishtha Mehrotra | EQMint

Hospital stocks fell sharply in morning trade on September 30, with major names declining between 3% and 7% as investors booked profits following their recent outperformance. Max Healthcare fell 7%, while Apollo Hospitals and Fortis Healthcare declined 6% each. Yatharth Hospital was down 5%.

The selling comes after the US introduced a 100% tariff on specified patented pharmaceuticals and associated ingredients, while exempting certain speciality medicines and qualifying ingredients from the additional duty. The exemptions cover areas including orphan drugs, fertility treatments, cell and gene therapies and antibody-drug conjugates, subject to specified conditions.

The broader healthcare sector had outperformed recently, contributing to profit-booking across hospital stocks. Market participants are now watching upcoming earnings and sector momentum for further direction.

Disclaimer: This article is for information purposes only and is not investment advice.

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