Pharmaceutical stocks witnessed heavy selling pressure in early trade on Monday, dragged down by broader market weakness amid rising global trade tensions. At 9:28 AM, benchmark indices Sensex and Nifty were trading sharply lower, with pharma counters following suit.
Top pharma losers: Biocon, IPCA, Glenmark, Divi’s, Dr Reddy’s in the red
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Biocon plunged 5.64% to ₹309.30
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IPCA Labs fell 4.67% to ₹1,333.90
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Glenmark slipped 3.56% to ₹1,446.40
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Aurobindo Pharma down 3.46% at ₹1,067.15
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Divi’s Labs dropped 3.32% to ₹5,300.55
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GlaxoSmithKline Pharma declined 3.17% to ₹2,652.40
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Dr Reddy’s Labs down 2.68% at ₹1,080.20
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Zydus Lifesciences fell 2.32% to ₹846.80
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Lupin slipped 2.41% to ₹1,923.50
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Cipla down 2.35% at ₹1,382.05
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Sun Pharma declined 2.37% to ₹1,668.90
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Alkem Labs dropped 2.38% to ₹4,713.75
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Abbott India fell 1.56% to ₹28,623.90
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Mankind Pharma shed 0.55% at ₹2,437.60
The lone gainer in the pharma pack was Torrent Pharma, which rose 0.34% to ₹3,297.80.
Benchmark indices plummet amid global turmoil
At 9:28 AM, the Sensex had fallen 2,577.09 points or 3.42% to 72,787.60, while the Nifty 50 was down 839.40 points or 3.66% to 22,065.05. The massive sell-off came on the back of escalating tariff tensions between the U.S. and China, coupled with a risk-off sentiment across global markets. Pharma, often seen as a defensive bet, wasn’t spared in the broad-based decline.
Disclaimer: The above views are based on official market data and public disclosures. Please make any and every investment decision after consulting your financial advisor.
