The Nifty Pharma index is currently trading at 22,015.30, reflecting a decline of 165.40 points or 0.75% from its previous close of 22,180.70, as the trading day nears its conclusion. The index initially opened higher at 22,219.65 but experienced considerable selling pressure throughout the session, hitting an intraday low of 21,983.20.
Market breadth remained unfavorable, with 15 stocks declining compared to just 5 advancing. Among the major laggards, Ajanta Pharma reported a drop of 2.04%, Torrent Pharma decreased by 1.86%, and Dr. Reddy’s fell by 1.66%. Notably, Cipla led the losses with a 1.64% decline to ₹1,512.70, making it the most actively traded stock by value, with transactions totaling ₹336.07 crores.
On a more positive note, Glenmark Pharma emerged as the top gainer, rising by 1.03% to ₹2,039.40 following its licensing agreement with Hengrui Pharma for the oncology drug Trastuzumab Rezetecan. Aurobindo Pharma and Mankind Pharma also reported modest gains during the trading session.
Analyst sentiment within the sector remains mixed. Motilal Oswal maintains a buy rating on Gland Pharma with a target price of ₹2,340, citing potential performance revival due to niche approvals in the U.S. In contrast, Morgan Stanley has assigned an overweight rating to Sun Pharma, with a target of ₹1,948, underscoring the company’s preparations for the GLP-1 market. However, Nomura has adopted a neutral stance on Glenmark despite the recent licensing agreement, setting a target price of ₹1,500.
Over the longer term, the pharma index has displayed resilience, achieving 74.58% returns over the past three years, despite recent downturns.
