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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.
