Sector witness heavy pressure as pharma stocks failed to hold on to early gains and now facing downside from the investors.
During early trading deals, at around 10:50 AM, Nifty Pharma performs at 14,289.50 down by 40.35 points or 0.28%. The index has touched an intraday high of 14,339.30 and intraday low of 14,258.05 on Monday.
On the index, Nifty Pharma was struggling where only 4 scrips were advancing while other 6 scrips was declining.
Heavyweight, Aurobindo Pharma was the top loser performing at Rs734.60 per piece, 0.96% down.
Dr Reddys was down 0.58% at Rs4,883.40 per piece. Divis Lab also dropped 0.49% at Rs5,030.05 per piece to drag the sector. Sun Pharma and Cadila also shed 0.48% and 0.40% respectively while Cipla traded marginally down.
On the upside, Alkem Laboratories bucked the trend in the sector to gain 0.67% at Rs3821.10 per piece being the top performer in the index. Torrent Pharma and Lupin also traded marginally higher to provide support to the sector while Biocon was 0.24% higher.
According to the Ministry of Health and Family Welfare, in the last 24 hours India’s Cumulative COVID-19 vaccination coverage surpasses 73.82cr while Current Recovery Rate is at 97.51%.