In mid-morning trading, the S&P BSE Sensex recorded a decline of 399.73 points or 0.55%, settling at 72,964.56. The Nifty 50 index also fell 111.60 points (0.49%) to 22,601.50, reflecting a cautious investor sentiment amid rising geopolitical tensions between the United States and Iran. The Nifty Pharma index dropped 1.19%, marking a 4.98% decline over the last five sessions, with significant losses reported by major pharmaceutical companies such as Piramal Pharma and Sun Pharmaceutical Industries. The broader market showed a mixed performance, with the BSE 150 MidCap Index down 0.03% and the BSE 250 SmallCap Index down 0.07%. Despite the overall decline, the market breadth remained positive with 2,426 shares rising against 1,623 shares that fell. The Reserve Bank of India's Monetary Policy Committee is expected to maintain the repo rate at 5.25% during its upcoming meeting, as inflationary pressures and geopolitical risks continue to loom. In global markets, stocks in Japan and South Korea rose, while concerns over the Middle East conflict persisted, impacting oil prices and investor confidence.