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Market Now: Pharma stocks in pain; Dr Reddy's Labs, Cadila plunge almost 5%

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NEW DELHI: Most pharma stocks were suffering heavy losses during Monday's trade, keeping the sectoral index in deep red.

Shares of Dr.

Reddy's Laboratories (down 4.64 per cent), Cadila Healthcare (down 4.57 per cent) and Biocon (down 4.49 per cent) were the top losers in the Nifty Pharma index that was trading 2.5 per cent down at 8,006 around 02:55 pm.Sun Pharmaceutical Industries (down 3.81 per cent), Aurobindo Pharma (down 1.83 per cent), Divi's Laboratories (down 1.56 per cent), Cipla (down 1.32 per cent), Lupin (down 0.77 per cent) and Glenmark Pharmaceuticals (down 0.12 per cent) were also among losers.Piramal Enterprises (up 0.33 per cent) was the only stock in the Nifty Pharma index that was slightly up around that time.

Benchmark NSE Nifty50 index was down 69 points at 10,527, while the BSE Sensex was 189 points down at 34,659.

Among the 50 stocks in the Nifty index, 13 were trading in the green, while 37 were in the red.

State Bank of India, BPCL and Tata Consultancy Services were leading the pack of Nifty gainers.On the other hand, Dr.

Reddy's Laboratories, Sun Pharma and UPL were the top losers in the Nifty index.




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