Nifty Pharma Underperforms In A Volatile Market

Even as indices have shed their morning losses and broader markets are outperforming with gains of over 1 percent, the indices weak in trade have been FMCG, pharma, realty and IT.

The rising number of corona positive cases and alongside shortage of Oxygen and other medications is what is leading to bearish sentiment.

At the time of writing this report, the Nifty pharma index was trading lower by 0.55%, the biggest laggard in today's session followed by the FMCG space.

Individually, within the pack, only Alkem Labs and Divis Labs have been trading positive. And the stocks in the red include Cipla, Dr. Reddy's Lab, Cadila Health, Torrent Pharma and Aurobindo Pharma. In the last 24 hours, the country has reported 3.4 lakh cases.

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