Stock market update: Sun Pharma, Cipla drag Nifty Pharma index down

NEW DELHI: Losses in Sun Pharmaceutical Industries (down 2.69 per cent), Glenmark Pharmaceuticals (down 1.97 per cent), Cadila Healthcare (down 1.74 per cent) and Cipla (down 1.51 per cent) dragged Nifty Pharma index down in Friday's session.

The Nifty Pharma index was trading 1.31 per cent down at 9,944 around 12:40 pm.

Shares of Biocon (down 1 per cent), Lupin (down 0.95 per cent), Dr. Reddy's Laboratories (down 0.82 per cent), Aurobindo Pharma (down 0.72 per cent) and Divi's Laboratories (down 0.13 per cent) too were in the red.


However, Piramal Enterprises (up 1.23 per cent) was in the green around that time.

Indian equity market was lacklustre amid mixed global cues as trade talks between the US and China ended without any significant outcome.

Caution crept in ahead of Federal Reserve Chairman Jerome Powell's speech at the annual global central bank conference in Jackson Hole later in the day.

Besides, profit-booking at record levels amid weakness in the Indian rupee against the US dollar dented sentiment here.

Benchmark NSE Nifty50 index was down 31.35 points at 11,551.4, while the BSE Sensex was 106.19 points down at 38,230.57.

Among the 50 stocks in the Nifty index, 23 were trading in the green, while 27 were in the red.

ONGC, Bharti Infratel, Grasim Industries, Bajaj Finance and Power Grid Corporation of India were among the top gainers, while YES Bank, ICICI Bank, Sun Pharma, Titan Company and GAIL (India) were among the top losers in the Nifty index.