Even as Nifty hits crucial 8400 levels on Thursday in the first half hour of the session, the pharma stocks reel in red owing to the President-elect Donald Trump comments and the rhetoric of the pharma companies beefing up more profits than required for the benefit of the poor.
The major pharma companies in India that have exposure to US markets are reeling under pressure with companies like Sun Pharma and Dr Reddy laboratories (DRL) contributing most to the BSE healthcare downfall.
The BSE Healthcare Index is down by almost 182 points or 1.21% trading at 14940 levels.
Sun Pharma and DRL have contributed to almost 55% of the index fall. Sun Pharma is down by 1.89% trading at Rs 635 per share. DRL is trading at Rs 984 down by 2% in the first half hours of the day.
Other pharma stocks like Cipla, Natco Pharma, Dishman Pharma, Lyka Labs are also down by more than 2%.
The major pharma companies in India that have exposure to US markets are reeling under pressure with companies like Sun Pharma and Dr Reddy laboratories (DRL) contributing most to the BSE healthcare downfall.
The BSE Healthcare Index is down by almost 182 points or 1.21% trading at 14940 levels.
Sun Pharma and DRL have contributed to almost 55% of the index fall. Sun Pharma is down by 1.89% trading at Rs 635 per share. DRL is trading at Rs 984 down by 2% in the first half hours of the day.
Other pharma stocks like Cipla, Natco Pharma, Dishman Pharma, Lyka Labs are also down by more than 2%.
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