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Pharma Stocks Falls, Nifty Pharma index down over 1pc

Majority of Pharma stocks were trading in the negative territory during Wednesday’s mid-market session.

The Nifty Pharma index was trading lower by 1.06% at 7,832.75 at 12.10pm. At the same time, the benchmark indices Nifty 50 traded at 11707.65 up by 16.15 points, whereas the BSE Sensex were at 39152.21, up by 105.87 points.

During morning session, the Sensex rallied at intraday high level of 39386 (up 340 points), but due to profit booking the indices turned lower through Mid-session.

Shares Piramal Enterprises were down 2.58%, Glenmark down 2.12%, Sun Pharma down 2.06% and Aurbindo Pharma down 1.65% as major losers on Nifty Pharma Index.

On the other hand, Biocon, Cadila Healthcare and Divi’s Laboratories were seen some buying pressure.

Out of11 sectoral segments of the NSE, five indices namely Nifty Auto, Nifty FMCG, Nifty IT, Pharma and PSU Bank were trading in the red, while Nifty bank, Financial Service, Media, Metal, Private Bank and Realty indices are trading marginally higher.