Stock market update: Nifty Pharma lone sectoral gainer; Divi's Labs surges nearly 5%

NEW DELHI: The Nifty Pharma index was the solitary gainer among the sectoral indices during Thursday’s trade.

The index was trading 0.97 per cent up at 9035 around 12:15 pm with 7 stocks in the green and only 3 in the red.

Divi’s Laboratories (up 4.65 per cent), Sun Pharmaceutical Industries (up 1.95 per cent), Aurobindo Pharma (up 1.80 per cent), Cadila Healthcare (up 0.94 per cent), Lupin (up 0.80 per cent), Cipla (up 0.78 per cent) and Dr. Reddy’s Laboratories (up 0.17 per cent) were the gainers in the pharma index.

On the other hand, Piramal Enterprises (down 1.70 per cent), Glenmark Pharmaceuticals (down 0.32 per cent) and Biocon (down 0.09 per cent) were the losers in the index.

Domestic markets were under pressure, tracking weak global cues after the US Fed hiked rate.

Moreover, concerns over widening current account deficit (CAD) at home and data showing lower-than-expected Chinese factory output growth too weighed on the sentiment.

India’s wholesale inflation rose to 4.43 per cent in May, compared with 3.18 per cent in April, a government data showed.

Benchmark NSE Nifty50 index was down 74 points at 10,782, while the BSE Sensex was 223 points at 35,516.

Among the 50 stocks in the Nifty index, 10 were trading in the green, while 40 were in the red.

Sun Pharma, HCL Tech, Cipla and Lupin were the top gainers in the Nifty index.

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