Equity benchmark indices were in the negative zone, with the Sensex slipped by 97 points at 40,171 while the Nifty is trading below 12,100 levels, down with 28 points in the afternoon session.
BSE Pharma Index was trading 1% lower on sell-off in Dr Reddy’s, Sun Pharma, Divis Lab and Biocon.
The BSE Pharma index is trading at 13,295.69, down 129 points or 0.97% over the previous close. It had earlier touched a day's high of 13,508.13 and a day's low of 13,238.17.
The breadth within the BSE Pharma index is negative with 48 shares declining and 19 shares are advanced.
Shares of Jubilant Life Sciences extended declines for the third consecutive trading session and also top losers in the pharma index today.
Shares of Dr Reddy’s slipped over 2.5%, followed by HCG, Apollo Hospitals, Lal Path and Biocon fell 2% each.
On the other hand, IOL Chemicals, FDC, Caplin Point and Thyrocare were the top gainers in the BSE pharma index.
Accelya Solutions India, Aksh Optifibre, The Byke Hospitality and Blue Coast Hotels, Cox & Kings, Igarashi Motors India stocks that hit a 52-week low on the NSE.