INSUBCONTINENT EXCLUSIVE:
Authors: JordanNEW DELHI: Most pharma stocks including Lupin (down 3.15 per cent), Dr
Reddy's Laboratories (down 1.79 per cent) and Aurobindo Pharma (down 1.71 per cent) were suffering losses during the early trade on Monday,
keeping the sectoral index down
The Nifty Pharma index was trading 1.2 per cent down at 8,712 around 10:40 am (IST).
Shares of Glenmark Pharmaceuticals (down 1.63 per
cent), Sun Pharmaceutical Industries (down 1.53 per cent), Biocon (down 0.84 per cent), Cipla (down 0.84 per cent), Cadila Healthcare (down
0.55 per cent) and Divi's Laboratories (down 0.33 per cent) were also in the red
Meanwhile, Piramal Enterprises (up 1 per cent) was bucking the trend, trading in the positive territory.
Equity markets were trading up on
fresh buying by domestic institutional investors amid a strengthening rupee.
Asian markets were also trading in the green as
weaker-than-expected US wage growth helped calm investor fears about rising interest rates and inflation.
Metal, bank, FMCG and auto stocks
were leading among the gainers
However, besides pharma, a few IT stocks too were suffering losses, capping the gains for market
The NSE Nifty50 index was up 36 points at 10,654, while the BSE Sensex was up 102 points at 35,018
Among the 50 stocks in the Nifty index, 29 were trading in the green, while 21 were in the red.
