The pharmaceutical sector experienced a broad-based decline, contributing to the overall market weakness as Nifty fell by 1.22% (-275.80 points) to 22,269.25. Glenmark dropped by 2.43%, closing at ₹1,281.50, while Divi’s Lab slipped 2.10% to ₹5,497.80. Biocon saw a decline of 2.57%, ending at ₹303.85, and Glaxo plunged 3.44% to ₹2,530.75.
Other pharma stocks also witnessed selling pressure, with Ipca Labs down 0.52% to ₹1,361.60 and Zydus Life dropping 1.12% to ₹876.55. Sun Pharma declined by 1.15% to ₹1,628.60, and Cipla fell 1.17% to ₹1,424.30. Lupin was down 1.29% at ₹1,866.65, and Abbott India declined by 1.35% to ₹29,558.90. Dr. Reddy’s Laboratories witnessed a fall of 1.39%, closing at ₹1,109.90.
Torrent Pharma experienced a drop of 1.53% to ₹2,941.25, while Alkem fell 1.66% to ₹4,536.05. Aurobindo Pharma was down 1.67% at ₹1,062.65, and Mankind dropped 1.89% to ₹2,250.90. The sector continues to face selling pressure amid negative market sentiment and global headwinds.
Disclaimer:
This article is for informational purposes only and should not be construed as financial advice. Investors are advised to consult their financial advisors before making any investment decisions.