Mumbai, July 22 -- Indian benchmark indices opened lower on Wednesday as surging crude oil prices amid escalating tensions between the US and Iran weighed on investor sentiment, while Indian pharmaceutical stocks came under pressure after US President Donald Trump announced plans to impose tariffs of up to 200 per cent on generic drug imports from 2028.

Trump announced generic drugs imported into the US will continue to attract zero per cent tariffs for two years from August 1, 2026, after which the tariff will rise to 100 per cent for one year and 200 per cent thereafter. The announcement put pressure on Indian pharma stocks, with several companies trading in the red during early trade.

Sensex opened with a gap-down at 77,384.95 as aga...