Market Now: Pharma stocks tumble; Lupin, Sun Pharma decline 1%
NEW DELHI: Most of the pharma stocks, including Lupin (down 1.16 per cent), Sun Pharmaceutical Industries (down 0.99 per cent) and Divi’s Laboratories (down 0.91 per cent) were trading down in afternoon trade on Friday.
The Nifty Pharma index was trading 0.59 per cent down at 9,716 around 02:15 pm (IST).
Shares of Aurobindo Pharma (down 0.85 per cent), Cipla (down 0.62 per cent), GlaxoSmithKline Pharmaceuticals (down 0.58 per cent), Piramal Enterprises (down 0.42 per cent) and Glenmark Pharmaceuticals (down 0.40 per cent) were also trading down.
Dr. Reddy’s Laboratories (up 0.51 per cent) and Cadila Healthcare (up 0.31 per cent) were the two components in the Nifty Pharma index that were trading up around that time.
Benchmark NSE Nifty50 index was 3 points up at 10,654, while the BSE Sensex was 17 points up at 34,520.
Among the 50 stocks in the Nifty50 index, 21 were trading in the green, while 29 were in the red.
State Bank of India, Idea Cellular, BHEL, Punjab National Bank, SAIL, Bank of Baroda, Zee Entertainment, Vedanta, Tata Power, ICICI Bank and ITC were among the most active stocks in terms of volume on NSE.
ICICI Bank, Oil & Natural Gas Corporation and Hindustan Petroleum Corporation were among the top gainers in the Nifty50 index.
Meanwhile, Bharti Airtel, Adani Ports and Lupin were reeling under selling pressure.
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Via:: Economic Times – Stocks