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Market Now: Pharma stocks mixed; Cadila gains on USFDA nod

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Among the 50 stocks in the Nifty index, 25 were trading in the green, while 25 were in the red.
Among the 50 stocks in the Nifty index, 25 were trading in the green, while 25 were in the red.

NEW DELHI: Shares of GlaxoSmithKline Pharmaceuticals (down 1.27 per cent), Glenmark Pharmaceuticals (down 0.91 per cent) and Sun Pharmaceutical Industries (down 0.78 per cent) declined up to 1 per cent during Monday’s trade.

The Nifty Pharma index was trading 0.07 per cent down at 8,321 around 12:20 pm (IST).

In the pharma index, Dr. Reddy’s Laboratories (down 0.67 per cent), Aurobindo Pharma (down 0.57 per cent) and Divi’s Laboratories (down 0.16 per cent) were also in the red.

Meanwhile, shares of Cadila Healthcare (up 4.43 per cent) climbed over 4 per cent on Monday after the company received final approval from the USFDA to market a drug used to treat chest pain, high blood pressure and heart failure.
Cipla (up 0.64 per cent), Piramal Enterprises (up 0.45 per cent) and Lupin (up 0.33 per cent) were marginally up.

Equity benchmarks Nifty50 and Sensex were listless amid weakness in global markets.

The Nifty50 index was up 2 points at 10,000, while the BSE Sensex was up 50 points at 32,647.

Among the 50 stocks in the Nifty index, 25 were trading in the green, while 25 were in the red.

YES Bank, State Bank of India, ICICI Bank and Bajaj Finance were among the top gainers in the Nifty index.

On the contrary, GAIL, Wipro, HPCL and Adani Ports were among the top losers in the Nifty pack of stocks.



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