Pharma Stocks in Red as Dalal Street Bleeds; Biocon, Piramal Pharma, Sun Pharma Among Top Losers; Know Reasons

The Indian stock market witnessed a sharp decline on April 2, with both benchmark indices slipping significantly amid broad-based selling pressure. The Nifty 50 was hovering near 22,225, down around 2% by midday, while the Sensex dropped to approximately 71,669, also registering a fall of nearly 2%.

Dalal Street Crash: Sensex Tanks, Nifty Near 22,200 After Trump Remarks on Iran Conflict

Unlike previous sessions, the market saw little support from selective buying, indicating widespread weakness across sectors. Selling pressure was visible across the board, with investors reacting to global cues and sector-specific concerns.

A sharp sell-off gripped Dalal Street as the benchmark indices plunged. "Equity markets witnessed a sharp correction today after the fresh comments from US President dashed hopes of a near term resolution, while raising the rhetoric over the continued "extremely hard" attacks on Iranian power and oil infrastructure," said Mr. Ajay Menon, MD & CEO - Wealth Management, Motilal Oswal Financial Services

Pharma Stocks Lead Stock Market Decline Today on Trump Tariff Threat Concerns

The pharmaceutical sector emerged as the biggest drag on the market during the session. The Nifty Pharma index fell sharply by as much as 3.75%, with all 20 constituent stocks trading in the red.

The decline was triggered by reports suggesting that the administration of Donald Trump may impose tariffs on drugmakers that do not commit to lowering prices in the United States. This development raised concerns over potential pressure on margins for Indian pharmaceutical exporters, leading to a broad sell-off in the sector.

Biocon Share Price Today

Among individual stocks, Biocon Ltd saw a notable decline, trading at Rs 351.60, down Rs 13.60 or 3.72% as of around 1:20 PM. The stock opened at Rs 362.25 and touched a high of Rs 363.15, before slipping to a low of Rs 342.10 during the session.

Glenmark Pharma Share Price Today

Glenmark Pharmaceuticals Ltd was also under pressure, trading at Rs 2,066.90, down Rs 34.20 or 1.63% as of around 1:22 PM. The stock moved between a high of Rs 2,089.00 and a low of Rs 1,966.50 after opening at Rs 2,085.00.

Torrent Pharma Share Price Today

Shares of Torrent Pharmaceuticals Ltd declined sharply to Rs 3,977.40, falling Rs 133.90 or 3.26% as of around 1:23 PM. The stock opened at Rs 4,075.00 and touched a high of Rs 4,090.80 before dropping to a low of Rs 3,871.10.

Sun Pharma Share Price Today

Meanwhile, Sun Pharmaceutical Industries Ltd was trading at Rs 1,686.20, down Rs 42.30 or 2.45% as of around 1:26 PM. It opened at Rs 1,665.00 and fluctuated between a high of Rs 1,695.40 and a low of Rs 1,620.00.

Piramal Pharma Share Price Today

Piramal Pharma Ltd also faced selling pressure, trading at Rs 139.26, down Rs 3.25 or 2.28% as of around 1:29 PM. The stock opened at Rs 140.00 and moved within a range of Rs 140.89 to Rs 136.26 during the day.

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