Sensex trims losses, Nifty still below 10,100; pharma stocks rally

Sun Pharma to acquire Ranbaxy in $4 billion all-stock dealSun Pharma to acquire Ranbaxy in $4 billion all-stock deal

Equity benchmarks trimmed losses in late morning trade, with the Sensex falling over 100 points but the Nifty was still below 10,100 level.

The 30-share BSE Sensex was down 118.02 points at 32,282.49 and the 50-share NSE Nifty fell 45.70 points to 10,095.45.

The fall in broader markets was more than benchmarks as the BSE Midcap index was down 0.6 percent and Smallcap declined 0.9 percent. About three shares declined for every share rising on the BSE.

Healthcare stocks gained momentum after Dr Reddy’s Labs received establishment inspection report from the USFDA for Formulation Srikakulam Plant (SEZ) unit II, Andhra Pradesh. The stock gained 4.6 percent followed by Sun Pharma, Cipla, Lupin and Aurobindo Pharma.

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