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Nifty Pharma holds steady; Majority stocks weigh down; Abbott India top gainer

Nifty Pharma had 7 advances and 11 declines out of the 20 listed Pharma companies.

October 01, 2021 10:45 IST | India Infoline News Service
Bull and bear
The Nifty Pharma recovers from their early losses and were trading on a flat note on Friday. The index, however, is in a volatile move for the day. As benchmark indices trading near the day's low dragged by the major indices like banking, auto and financials, the pharma index also witnessed some profit bookings in major stocks however the losses were offset by heavyweights Abbott India and Alkem which were performing on a higher note. 

At around 10:45 AM, the Nifty Pharma performs at 14,475.65 up by 9.15 points or 0.06%. The index has touched an intraday high of 14,539.40 and intraday low of 14,397.55.

On the trading window, the Nifty Pharma had 7 advances and 11 declines out of the 20 listed Pharma companies.

Index heavyweight Abbott India performed as top gainer surging by 2.20% at Rs20,969.75 per piece followed by Alkem Labs and Gland Pharma gaining around 1% each. 

Divis Lab (+0.43%), Sun Pharma (+0.31%) and Dr Reddy (+0.27%) were on the upside while Ipca Lab and Granules added some marginal gains to support the index.

However, Auro Pharma dragged the index by 1.55% at Rs713.55 per piece being the top laggard on the index along with Torrent Pharma and Cadila Healthcare shed around 1% each. Natco Pharma was also down by 0.69% at Rs885.40 per piece.

Stocks like Laurus Labs (-0.54%), Alembic Pharma (-0.37%), Biocon (-0.34%),Glenmark (-0.34%) and Pfizer (-0.31%) were all under pressure while Lupin and Strides Pharma traded flat tracking bearish markets tone on Friday.

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