Sensex slips 350 pts, Nifty below 10,400; Lupin tanks 17%

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Equity benchmarks extended losses in afternoon trade, with the Nifty testing 10,400 level and the Sensex falling around 200 points.

Lupin was the biggest loser among Nifty 50 stocks, falling 17 percent after the US FDA has issued combined warning letter to Goa & Pithampur Unit-II sites. Nifty Pharma index was down 3.7 percent.

IT index continued to outperform, rising 2.5 percent led by HCL Technologies (up 3.7 percent), Tech Mahindra (3.3 percent), Infosys (2.7 percent) and TCS (2.2 percent).

The 30-share BSE Sensex was down 185.72 points at 33,545.47 and the 50-share NSE Nifty fell 51.50 points to 10,400.30, weighed by Reliance Industries, HDFC and ICICI Bank.

About two shares declined for every share rising on the BSE.

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Sensex, Nifty rangebound; RBI’s MPC meet outcome awaited Sensex, Nifty continue to be sluggish ahead of RBI policy; Europe mixed
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