Stock market update: Pharma stocks crack; Biocon, Lupin top losers in Nifty Pharma

Many pharma stocks featured among the top losers during Thursday’s market rout.

The Nifty Pharma index was trading 2.16 per cent down at 9,736 around 1 pm with all components in the red.

Biocon (down 4.27 per cent) and LupinNSE -4.90 % (down 4.15 per cent) were the top losers in the pharma pack, followed by Cadila Healthcare (down 3.81 per cent), Glenmark Pharmaceuticals (down 2.88 per cent) and Dr. Reddy’s Laboratories (down 2.61 per cent).

Divi’s Laboratories (down 2.50 per cent), Aurobindo Pharma (down 2.07 per cent), Sun Pharmaceutical Industries (down 1.49 per cent), Piramal Enterprises (down 1.29 per cent) and Cipla (down 1.15 per cent) also suffered significant losses.

Rupee’s unabated fall, surging crude oil prices, firming bond yields and weakness in other Asian markets hit domestic market sentiment.

Benchmark NSE Nifty50 index was down 222 points at 10,636, while the BSE Sensex was 709 points down at 35,267.

Among the 50 stocks in the Nifty index, 9 were trading in the green, while 41 were in the red.

YES Bank, Bharti Infratel, Larsen & Toubro, Vedanta and Tata Steel were among the gainers in the Nifty index.

Eicher Motors, Hero MotoCorp, Reliance Industries, Tech Mahindra and Bajaj Finance were the top losers in the Nifty pack of stocks.

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