Market Now: Sun Pharma, Cipla drag Nifty Pharma index down

NEW DELHI: Pharma majors such as Sun Pharma (down 1.20 per cent), Cipla (down 1.09 per cent), Aurobindo Pharma (down 0.62 per cent) and Lupin (down 0.46 per cent) were losing in Wednesday's trade, dragging the Nifty Pharma index lower by nearly 20 points.

The Nifty Pharma index was trading at 9,274, down 20 points, around 10.35 am (IST), while benchmark Nifty50 was trading almost flat, 2 points down, at 10,145 and Sensex was 20 points up at 32,422.

The Nifty pharma index extended the losses for the second session.

However, shares of Divi's Lab gained up to 4 per cent in the morning session. The scrip was trading 3.22 per cent up at Rs 891 around the same time.

Dr Reddy's and Piramal Enterprises were the other two significant gainers of the pharma index that rose up to 1 per cent.

Equity benchmarks cooled off a bit as the trade advanced and selling emerged in pharma, IT, auto and metal stocks.

Bharat Petroleum, Tata Motors, Sun Pharma and Hero MotoCorp were the top drags in the Nifty index.

Reliance, Dr Reddy's, Larsen & Toubro, State Bank of India and Tata Steel were the top gainers of the Nifty50 index.

On the NSE, 851 stocks were advancing, compared with 688 stocks declining and 411 stocks remaining unchanged.

On BSE, 1,122 stocks were advancing whereas 975 stocks were lagging and 117 stocks were appearing unchanged.

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