Nifty Pharma sinks 1% amid weak markets; Divis Lab, Lupin, Dr Reddy's, Sun Pharma among top losers

20 Jan 2022 , 12:05 PM

Nifty Pharma fell 1% amid weak markets on Thursday as Divis Lab and Dr. Reddy’s dragged the most while Gland Pharma, Sun Pharma, Lupin also were under heavy selling pressure. On the flip side, Granules India emerged as the top gainer in the sector.

Taking the recent fall to the third straight day, the benchmark indices opened lower on Thursday amid persisting concerns over inflation and Fed rate hikes. The BSE Sensex lost the psychological mark of 60,000 while the NSE barometer Nifty50 was ruling below the 17,800 level

At around 12.05 PM, BSE Sensex was trading at 59,559.90 down 538.92 points or 0.90% and Nifty50 at 17,794.20 down 144.20 points or 0.8%. Nifty Pharma was trading at 13,522.55 down 160.15 points or 1.17%, touching a high of 13,712.75 and low of 13,513.85 during intraday trade on Thursday.

Granules India lifted the sulking sector by surging 2% at Rs323.65 per piece. Natco Pharma (up 0.34%) and Pfizer (up 0.21%) were also trading comfortably higher.

Divis Laboratories shed 2.3% at Rs4,379.00 per piece to drag the most. Lupin also dragged 2% at Rs940.15 per piece. Dr Reddys Laboratories also shed 1.68% at Rs4,606.25 per piece. Gland Pharma was also 1.68% lower. Laurus Lab, Cipla and Sun Pharma were also down between 1.5% – 1.1%. Biocon also shed over 1% ahead of quarterly earnings. Strides Pharma and Cadila were also enarly 1% lower.

Glenmark Pharmaceuticals Ltd shed 0.9% at Rs493.70 per piece. The company  on Thursday said its Swiss arm has entered into an exclusive licensing agreement with Lotus International Pte Ltd for commercializing its innovative nasal spray Ryaltris in Singapore, Hong Kong and Vietnam.

Auro Pharma was also nearly 0.9% lower as the Index had 6 advances and 14 declines on Thursday.