Nifty Pharma under pressure on broad-based selloff; Aurobindo Pharma, Dr Reddy's drag

India’s Cumulative COVID-19 vaccination coverage surpasses 73.82cr.

Sep 13, 2021 10:09 IST India Infoline News Service

Businessman sleeping with bear with down trend graph
On Monday amid weak global cues, the Nifty Pharma was under pressure along with banking, auto sectors. The sector has been in the limelight  as India's vaccination drive continues to crossed the record landmarks.

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%.

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