Nifty Pharma, FMCG play laggards down by 2%

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Published: July 31, 2017 10:34:10 AM

In the Nifty FMCG, five stocks had seen advances in the morning trade, while seven stocks were declining. ITC, Hindustan Unilever, Enami and United Breweries were trading in the red. ITC was down by more than 1.5% since the previous close. Seven out of eight stocks in the Nifty pharma index declined in the morning trade.

Nifty pharma and FMCG indices were down by nearly 2% on Monday morning, since the previous close. (Image: Reuters)

Nifty pharma and FMCG indices were down by nearly 2% on Monday morning, since the previous close. In the Nifty FMCG, five stocks had seen advances in the morning trade, while seven stocks were declining.  ITC, Hindustan Unilever, Enami and United Breweries were trading in the red. ITC was down by more than 1.5% since the previous close. Top gainers included Jubilant foods, Tata Global, Britannia and Dabur, with Jubilant foods and Tata global rallying by more than 1% each. Jubilant foods, Britannia, Tata global and Dabur were trading within 2% of 52 weeks high.

Seven out of eight stocks in the Nifty pharma index declined in the morning trade. Sun pharma, Dr Reddy’s lab, Glenmark, Cipla, Glaxo Smithkline, and Divi’s laboratories were trading in the red.  Dr Reddy’s lab declined by more than 2%. The company had declared its quarterly financials in the last week. The shares had tanked by more than 6% on Friday, as the drug maker had reported a net loss of Rs 7.3 Crores. The scrip continues to extend losses for the third consecutive day.  Dr Reddy’s lab was trading just 2% short of a 52 week low.  Aurobindo Pharma was the only stock trading in the green, up by nearly 1% since the previous close. Cadilac Healthcare, though trading 0.65% below the previous close was marginally behind it’s 52 week high of Rs 560.

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