Pharma index underperforms led by Aurobindo Pharma

The Nifty Pharma index was trading under pressure in the afternoon session led by Aurobindo Pharma, Piramal Ent, Glenmark and Cipla. All the pharma components were trading in the negative zone.

Shares of Aurobindo Pharma slipped more than 4% after the pharma company announced that the USFDA inspected Unit VII, an oral solids formulation manufacturing facility of the company, post which the latter has received a letter from the USFDA classifying the inspection conducted at the aforesaid facility as Official Action Indicated (OAI).

Shares of Piramal fell 4%, followed by Glenmark, Cipla, Sun Pharma, Cadila Healthcare and Lupin which are down over 2% respectively.

Divi’s Lab, Biocon and Dr Reddy’s were slightly down on the Nifty Pharma index.

Meanwhile, the Sensex was down 291 points and the Nifty50 index was down 92 points at 12,037. The market breadth favoured the sellers on the NSE, 486 shares rose, 1,224 shares fell and 437 shares were unchanged.

Shares of Welspun India, Karur Vysya Bank, Cox & Kings, Kridhan Infra, Reliance Power, Kesoram Industries, Future Supply Chain Solutions, Sical Logistics and Sintex Plastics Technology hit a 52-week low on the NSE

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