Sun Pharma, Divi's Labs & Cipla Shares Drag Pharma Stocks To Over 10-Month Low
The market-cap of Nifty Pharma company declined Rs 40,476 crore to Rs 15.62 lakh crore as of 9:27 a.m.
Sun Pharmaceutical Industries Ltd., Divi's Laboratories Ltd., and Cipla Ltd. share prices dragged the NSE Nifty Pharma index to the lowest level in over 10 months. The market-cap of Nifty Pharma company declined Rs 40,476 crore to Rs 15.62 lakh crore as of 9:27 a.m.
The NSE Nifty Pharma index has extended losses to a second day as the sentiment for pharma companies stock continued to worsen on concerns over tariffs from the world's largest economy. On Friday, the index fell over 6% after the US President Donald Trump said that there'll be tariff on pharma products which are not seen before. The US is assessing the pharma sector as a separate category. Once the assessment is complete, they will announce tariff.
India imports pharmaceutical goods worth $10 billion to the US, which implied 6% of pharma-related imports of the latter. Generic drugs provides US healthcare sectors $400 billion worth of savings.
The Nifty Pharma declined 7% to 19,121.1, the lowest level since June 6, 2024. It pared losses to trade 2.54% down at 20,044.95 as of 9:37 a.m., as compared to 3.59% decline in the NSE Nifty 50 index. Despite logging significant losses at open, the Nifty Pharma was the second sectoral index to record least declines compared to other.
Gland Pharma Ltd., Biocon Ltd., and IPCA Laboratories Ltd. were top loser in the Nifty Pharma index. Gland Pharma and Biocon declined as much as 13.36% and 8.79%, respectively. IPCA Laboratories declined 16.51% so far today.
In terms of point contribution, Sun Pharmaceutical Industries Ltd. and Divi's Laboratories dragged the index the most, while Torrent Pharma Ltd. emerged as the only stock to limit losses in the index.
Natco Pharma Ltd., and JB Chemicals & Pharmaceuticals Ltd. fell the least among pharma stocks.
