Nifty Pharma under pressure on broad-based selloff; Cadila, Aurobindo, Biocon drag; Alkem Lab hits new high

The index has touched an intraday high and low of 14,074.50 and 13,900.70 respectively.

Aug 16, 2021 02:08 IST India Infoline News Service

Businessman sleeping with bear with down trend graph
Nifty Pharma was under pressure on Monday led by a broad-based selloff in majority stocks despite the broader markets touched a new high. June 2021 quarterly results, Covid-19 active cases and vaccination drive continue to keep this sector under focus.

At around 2.54 pm, Nifty Pharma was trading at 13,973.35 lower by 75.70 points or 0.54%. The index has touched an intraday high and low of 14,074.50 and 13,900.70 respectively.

Cadila Healthcare was the top underperformer tumbling by nearly 5% followed by Aurobindo Pharma diving at 3%.

Biocon and Divis Lab dipped more than 1% each. Lupin and Torrent Pharma slipped 0.8% and 0.7% respectively. Cipla plunged 0.5%.

Alkem Lab was the top gainer soaring by 1.1%. The stock has also touched a new 52-week high of Rs3,700 per piece earlier today.

Dr Reddy's Lab and Sun Pharma climbed by 0.4% each.

According to Ministry of Health and Family Welfare data, 54.58 Cr. vaccine doses have been administered so far under Nationwide Vaccination Drive. While India's Active caseload is currently 3,81,947; the lowest in 145 days.

India reports 32,937 new cases in the last 24 hours, while 35,909 patients recovered during the last 24 hours. 

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