Cipla, Dr. Reddy's Labs, Sun Pharma keep pharma pack up

NEW DELHI: Gains in Cipla (up 1.48 per cent), Dr. Reddy's Laboratories (up 1.42 per cent) and Sun Pharmaceutical Industries (up 1.35 per cent) were keeping the pharma pack up in Tuesday's session.

The Nifty Pharma index was trading 0.76 per cent up at 9,185 around 11 am.
Shares of Lupin (up 0.51 per cent), Glenmark Pharmaceuticals (up 0.32 per cent) and Biocon (up 0.16 per cent) too were in the green.

However, Divi's Laboratories (down 1.15 per cent), Piramal Enterprises (down 0.64 per cent), Aurobindo Pharma (down 0.31 per cent) and Cadila Healthcare (down 0.20 per cent) were under pressure around that time.

Indian equity market was in the negative territory tracking weak global cues.

Investors held back their bets as RBI's monetary policy meeting gets under way. RBI Governor Urjit Patel-headed Monetary Policy Committee (MPC) is expected to announce its decision on the key policy rates on Wednesday.

Global stocks fell as investors awaited critical monetary policy decisions this week. The Federal Reserve's Federal Open Market Committee too will announce its decision on Wednesday.

Benchmark NSE Nifty50 index was down 37 points at 11,283, while the BSE Sensex was 145 points down at 37,350.

Among the 50 stocks in the Nifty index, 25 were trading in the green, while 25 were in the red.

Tech Mahindra, HCL Technologies and Asian Paints were among the top gainers in the Nifty index.

On the other hand, Indiabulls Housing Finance, BPCL, Axis Bank, HDFC and Vedanta were among the top losers in the Nifty pack of stocks.