Nifty Pharma extend losses with all stocks in red; Divis Lab, Torrent Pharma, Cadila, Dr Reddy's, Sun Pharma weighing

The government revised the export policy of Remdesivir injection and Remdesivir Active Pharmaceutical Ingredients (API).

Jun 15, 2021 03:06 IST India Infoline News Service

Businessman sleeping with bear with down trend graph
Pharma stocks were the only laggards of Tuesday's session shrugging off the trend of the bullish market. The bears hovered in the sector after the government revised the Remdesivir injection export policy. All stocks listed on Nifty Pharma were in the red with heavyweights taking a huge toll.

At around 2.56 PM, Nifty Pharma was trading at 14,319.60 lower by 130 points or 0.90%. The index has touched an intraday high and low of 14,505 and 14,316.30 respectively.

Divis Lab was the top underperformer plunging 1.7%, while Torrent Pharma dived 1.6%. Alkem Lab and Cadila Healthcare dipped more than 1% each.

Major stocks like Lupin, Sun Pharma, Cipla and Dr Reddy's Lab dived nearly 1% each.

Biocon and Aurobindo Pharma were marginally down.

The government revised the export policy of Remdesivir injection and Remdesivir Active Pharmaceutical Ingredients (API). The Centre keeps Remdesivir in the 'restricted category' now.

As per the Ministry of Health and Family Welfare data, India reports 60,471 daily new cases in the last 24 hours; the lowest after 75 days.  1,17,525 patients have recovered during the last 24 hours. Daily recoveries continue to outnumber the Daily New Cases for the 33rd consecutive day. 

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