Market Now: Nifty Pharma index down; Dr Reddy’s Labs, Biocon top drags

The Nifty Pharma was trading 0.34 per cent down at 8,635 around 01:05 pm (IST).

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NEW DELHI: Pharma stocks Dr. Reddy’s Laboratories (down 1.27 per cent), Biocon (down 0.76 per cent) and Lupin (down 0.70 per cent) were trading in the red during afternoon trade on Wednesday, keeping the sectoral index down.

The Nifty Pharma was trading 0.34 per cent down at 8,635 around 01:05 pm (IST).

Shares of Cadila Healthcare (down 0.69 per cent), Sun Pharmaceutical Industries (down 0.54 per cent), Aurobindo Pharma (down 0.43 per cent) and Cipla (down 0.43 per cent) were also in the negative territory.

However, shares of of Divi’s Laboratories (up 0.83 per cent), Piramal Enterprises (up 0.51 per cent) and Glenmark Pharmaceuticals (up 0.44 per cent) were trading with mild gains around the same time.

Equity benchmarks slipped into the red as investors were awaiting cues from the RBI’s two-day monetary policy meet.

The NSE Nifty50 index was down 22 points at 10,223, while the BSE Sensex was 57 points down at 33,314.

Among the 50 stocks in the Nifty index, 14 were trading in the green, while 36 were in the red.

Tata Motors, Eicher Motors, Bajaj Finance, Hero MotoCorp and Adani Ports SEZ were among the top gainers in the Nifty index.

However, Titan, HPCL, UPL, BPCL and Indian Oil Corporation were among the top losers of the Nifty team.

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