Domestic indices closed lower as U.S. tariffs hit sentiment; pharma stocks dragged, while strong IPO demand and auto sales stood out.

• Sensex dropped 586 pts; Nifty below 24,600 as U.S. tariffs, Indian duty worries spooked investors amid earnings season.
• Pharma index slumped over 3%, while broader markets underperformed; only the FMCG sector ended in green territory.
• IPOs of NSDL, M&B Engineering, and Sri Lotus saw strong demand; auto sales boosted Eicher, TVS, and Bajaj Auto.