The Nifty opened 160 points lower today as a result of the announcement made by U.S President Trump of levying reciprocal tariffs, in which a minimum 10% is levied on all countries exporting to the U.S, 20% tariff on the European Union, 24% on Japan, and 26% for India. However, Trump exempted India's pharmaceutical sector from the tariffs, causing the pharma index to open with a strong bullish momentum, rising over approximately 4% today. Gold June futures on MCX soared to an all-time high of Rs 91,423 per 10 grams.