Indian stock market indices traded weak over the last two hours of trade. IT and Capital Goods stocks witnessed maximum selling pressure, while Consumer Durable and Pharma stocks witnessed maximum buying interest.
The BSE-Sensex is down by 100 points, while the NSE-Nifty is down by 47 points. BSE Mid Cap index is down by 0.22% while the BSE Small Cap index is up by 0.33% respectively. The rupee is trading at 51.12 to the US dollar.
Pharma stocks are trading in the green. Wockhardt and Ranbaxy are the biggest gainers, while Cipla and Cadila Healthcare are the biggest losers. According to a leading financial daily, Sun Pharmaceuticals is recalling 0.15 m bottles of an eye solution from the US after impurities were discovered in the medicine. The eye solution was to provide relief for conjunctivitis. Sun's recall falls under the US Food and Drug Agency (FDA) class III category, which means the use of the drug is not likely to have any adverse effects on the health of the patients. Such recalls are common in the US and does not necessarily mean that there is a problem with the quality of the drug. The eye drops were manufactured at Sun's Halol plant in Gujarat.