INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Nifty Pharma index was trading as the top loser among the sectoral indices on NSE in Monday's trade.
The Nifty Pharma was
trading 2.42 per cent down at 8,943 around 11:05 am with Dr
Reddy's Laboratories (down 8.32 per cent) as the top loser.
Shares of the company plunged after New Jersey District Court granted a
preliminary injunction against it on the sale of a generic version of Indivior's prescription medicine Suboxone in the US market
The drug is used for the treatment of opioid dependence
Sun Pharmaceutical Industries (down 2.99 per cent), Lupin (down 2.65 per cent), Divi's Laboratories (down 2.30 per cent) and Cadila
Healthcare (down 2.21 per cent) also fell significantly.
Shares of Glenmark Pharmaceuticals (down 1.86 per cent), Biocon (down 1.22 per
cent) and Aurobindo Pharma (down 1.04 per cent) too were under pressure.
Meanwhile, Piramal Enterprises (up 0.62 per cent) and Cipla (up
0.56 per cent) were trading with mild gains.
Key indices Sensex and Nifty were down, tracking weak Asian cues
Investors were cautious after an official data showed that China's economy slowed a little in the second quarter
Weak domestic macroeconomic indicators too hit the sentiment
India's trade deficit widened to its highest in more than five years in June, the trade ministry said on Friday, driven largely by a surge
in oil prices and a weaker rupee
Benchmark NSE Nifty50 index was down 33 points at 10,986, while the BSE Sensex was 49 points down at 36,493
Among the 50 stocks in the Nifty index, 19 were trading in the green, while 31 were in the red.
