Pharmaceutical stocks are trading higher in early trade, Pharma index is up 1.38%. Cipla and Mahindra & Mahindra have gained more than 5%.
Nifty and Sensex opened day lower and are currently trading 1 % lower. Banking stocks are worst hit, Bank Nifty is trading more than 500 points down at 17674.80. IndusInd, RBL Bank and Kotak Bank are the worst hit with more than 5% price cut.
Pharmaceutical companies are trading higher, especially Cipla and Lupin. Both counters are trading higher 6%.While Sun Pharma, Glenmark and Biocon are trading 3 % higher.
Mahindra and Mahindra is the stock of the day, currently trading at 287.2 with 14.35 points gain (5.26%). Apollo tyres and MRF along with Mahindra and Mahindra are the only stocks which are trading higher in Nifty Auto at present. TVS motors is the worst hit with loss of 7% price value.Hero Motocorp, Tata Motors, Ashok Leyland and Bosch are trading 3- 6 percent down.