Sensex Falls 274 Points; Pharma Stocks Decline

Following a major sell off in the pharma stocks at home and a negative sentiment in the Asian markets, the BSE Sensex and Nifty-50 ended the day in the red territory. At close, the Sensex was at 52,578.76, down 273.51 points, and the Nifty-50 was down by 78 points at 15,746.45.

In the 30-share pack Sensex, 19 scrips ended in the red, while 11 stocks advanced during the intraday session on Tuesday, July 27. Shares of Dr. Reddys Labs plunged as much as 11 per cent in the session after the company released its numbers for the June quarter. The company saw a drop of 1.5 per cent in its net profit at Rs 570.8 crore against Rs 579.3 crore in June 2020.

The overall pharma index shed more than five per cent among all other sectors in the market. Lupin and Aurobinda Pharma also declined nearly five per cent each, dragging the index down majorly.

Tracking the individuals, the most trending of the week, shares of Zomato witnessed heavy profit booking during the day which led the stock down by seven per cent after reaching a new high of Rs 147.80 earlier in the day. The stock ended the day at Rs 132.90, down by 5.5 per cent.

However, on the flipside, the metals outperformed during the day amid volatility across the board. Shares of APL Apollo surged over eight per cent after the company proposed to consider bonus issue of shares on August 6. Hindalco, Nalco, and Jindal Steel also added over four per cent each in the intraday session.

In the overall market breadth, nearly 1563 shares advanced, 1630 shares declined, and 107 shares were unchanged.

Ruchit Purohit

BW Reporters The author is a Trainee Journalist at BW Businessworld based in Mumbai. He tracks the Markets and related news.