Pharma shares under pressure; Nifty Pharma index down over 3%

Shares of pharmaceutical companies were under pressure with the Nifty Pharma index recorded its sharpest intra-day fall in past seven months  Stock Market Astrology

Dr Reddys Laboratories, Sun Pharmaceutical Industries, Glenmark Pharmaceuticals, Cadila Healthcare and Lupinwere down between 4% and 5% on the National Stock Exchange (NSE).

Cipla, GlaxoSmithKline Pharmaceuticals, Divis Laboratories, Piramal Enterprises and Aurobindo Pharmafrom the Nifty Pharma index were down in the range of 1% to 3%.

At 10:33 am, Nifty Pharma index, the largest loser among sectoral indices, was down 3.6% at 10,726, as compared to 0.37% decline in the Nifty50 index. The pharma index hit an intra-day low of 10,629, its lowest level since June 24, 2016. It fallen 4.5% during intra-day trade, recorded sharpest intra-day decline of 5.5% on March 29, 2016.  Intraday Trading Tips

Thus far in the current calendar year 2016, the pharmaindex has underperformed the market by falling 10% against 6.6% rise in the benchmark index.SMS Pharma, Claris Lifesciences, Vimta Labs, Jubilant Life Sciences, Sun Pharma Advanced Research, RPG Life Sciences, Strides Shasun and Aarti Drugs were down 4% to 5% on BSE.  Commodity Trading Tips

According to media report, U.S. prosecutors are bearing down on generic drug makers into suspected price collusion. LINK       Astrology and Numerology Trading Tips