Nifty Pharma witness volatility post RBI Policy; Heavyweights Cipla, Dr Reddy's drag; Biocon shines

Heavyweight, Alkem Industries was the top loser performing at Rs3,139.05 per piece, 0.82% down.

Jun 07, 2021 11:06 IST India Infoline News Service

Bear Market
On Monday amid volatility after RBI Policy, Nifty Pharma was under pressure as it is the only sector trading in the red. The sector has been in the limelight due to manufacture, marketing and even shortage of Covid-19 drugs and vaccines. 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 11.25 AM, Nifty Pharma performs at 14,065.65 down by 35.90 points or 0.25%. The index has touched an intraday high of 14,151.20 and intraday low of 14,072.65 on Monday. Except pharma, all other sectoral indices are trading in the green.

On the index, Nifty Pharma was struggling where only 3 scrips were advancing while other 7 scrips was declining.

Heavyweight, Alkem Industries was the top loser performing at Rs3,139.05 per piece, 0.82% down.

Cipla was down 0.78% at Rs939.05 per piece. Dr Reddy’s also dropped 0.59% at Rs5,224 per piece to drag the sector. Lupin also shed 0.25% while Torrent Pharma, Auro Pharma and Sun Pharma also traded in the red.

Biocon bucked the trend in the sector to gain 0.58% at Rs387.15 per piece to provide support to the sector. Cadila Heathcare was 0.15% higher while Divis Lab was also marginally higher. 
 

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