Pharma stocks sag; Dr Reddy's Labs, Sun Pharma, Lupin top drags

NEW DELHI: A majority of pharma stocks were trading in the lower terrain in Monday's trading session, keeping the sectoral pack down.

The Nifty Pharma index was trading 0.47 per cent down at 9,456 around 11:15 am.

Dr. Reddy's Laboratories (down 1.27 per cent), Sun Pharmaceutical Industries (down 1.15 per cent), Lupin (down 1.04 per cent) and Biocon (down 1.02 per cent) were the top drags on the pharma index.

Shares of Glenmark Pharmaceuticals (down 0.32 per cent), Divi's Laboratories (down 0.19 per cent) and Piramal Enterprises (down 0.12 per cent) were trading slightly down.

However, Cadila Healthcare (up 0.86 per cent), Cipla (up 0.62 per cent) and Aurobindo Pharma (up 0.35 per cent) were in the green in the pharma index around that time.

Equity benchmarks were trading in the positive terrain on gains in select bank, energy, metal and auto stocks amid broadly positive global cues.

Heavyweights ICICI Bank, State Bank of India, HDFC Bank, Axis Bank and Reliance Industries were boosting the benchmark indices.

The NSE Nifty50 index was up 47 points at 11,408, while the BSE Sensex was up 199 points at 37,756.

Among the 50 stocks in the Nifty index, 29 were trading in the green, while 20 were in the red.

Axis Bank, ICICI Bank and UPL were leading among Nifty scrips, whereas Hindustan Unilever and Kotak Mahindra Bank were among the top losers in the Nifty pack of stocks.