Market Wrap: Pharma, auto stocks drag D-St lower; Sensex skids 330 pts, Nifty below 23,100

Indian benchmark indices closed in the red on Friday, reversing early gains as concerns over a potential slowdown in corporate earnings overshadowed optimism about lower U.S. interest rates and declining oil prices. The downturn was primarily driven by a sell-off in pharma, real estate, and auto stocks.The benchmark BSE Sensex lost 329.92 points or 0.43% to close at 76,190.46, while the broader Nifty 50 index closed at 23,092.20, lower by 113.15 points or 0.49%.