Nifty Pharma Index Extends Losses for Second Straight Session as Dr Reddy’s Leads Declines

Nifty Pharma index extends losses for a second day. Dr Reddy’s Labs worst hit, down 2.99 percent. Ajanta Pharma down 1.47 percent, Biocon down 1.18 percent.

Updated: 23 Jul 2026 • 11:23 am

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Nifty Pharma Index Extends Losses for Second Straight Session as Dr Reddy’s Leads Declines

The Nifty Pharma index extended its losses into a second consecutive session on Thursday, with Dr Reddy’s Laboratories leading the decline, down 2.99 percent, as pharma stocks broadly remained under pressure following Wednesday’s tariff related selloff.

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Nifty Pharma Top Stock Losers Today

Company	CMP	Change (%)	Volume
Dr Reddys Labs	Rs 1,147.40	-2.99	2.43m
Ajanta Pharma	Rs 3,408.00	-1.47	5.49k
Biocon	Rs 432.80	-1.18	387.56k
Torrent Pharma	Rs 4,980.00	-1.06	30.34k
Divis Labs	Rs 7,313.50	-0.99	16.33k
Zydus Life	Rs 1,116.00	-0.91	70.49k
Ipca Labs	Rs 1,773.20	-0.86	10.46k
Cipla	Rs 1,407.20	-0.56	114.74k
Abbott India	Rs 28,740.00	-0.55	1.53k
Gland	Rs 2,425.90	-0.54	12.67k
Sun Pharma	Rs 1,932.60	-0.54	142.97k
Mankind Pharma	Rs 2,531.10	-0.53	12.46k
Aurobindo Pharm	Rs 1,525.90	-0.50	65.23k
Alkem Lab	Rs 5,558.50	-0.47	5.74k
Lupin	Rs 2,400.00	-0.29	68.68k
Glenmark	Rs 2,195.10	-0.22	23.39k

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Why the Nifty Pharma Index Is Falling for a Second Day

Dr Reddy’s Laboratories led the Nifty Pharma index lower again today, down 2.99 percent on heavy volume of 2.43 million shares, extending Wednesday’s decline when the stock fell on both the broader tariff related pharma selloff and its own weak Q1 FY27 results, which showed profit down 69 percent year on year on a one-off inventory provision.

Unlike Wednesday’s sharper single day move, today’s continuation across the Nifty Pharma index shows more moderate declines across most constituents, with all but Dr Reddy’s falling by less than 1.5 percent, suggesting the initial shock from Trump’s generic drug tariff plan is being digested gradually rather than triggering a fresh acute selloff.

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Nifty Pharma Index: What Investors Should Watch

Investors tracking the Nifty Pharma index should watch for any official clarification on the scope and timeline of the US generic drug tariff plan, since continued uncertainty could keep the sector volatile over coming sessions, while companies with more diversified revenue bases beyond commodity US generics may prove more resilient.

With the Nifty Pharma index now down for two consecutive sessions, investors should also track whether the index finds support near current levels or extends its decline further, since a third straight day of losses would represent a more meaningful shift in near term sector sentiment.

Indian pharmaceutical companies have historically weathered periodic US pricing and trade policy headwinds by diversifying into specialty products, biosimilars and complex generics with less commoditised pricing dynamics, a structural response that could again shape how individual companies within the sector manage the current tariff related uncertainty over coming quarters.

Quarterly earnings season commentary from individual pharma companies on their specific US revenue exposure and pricing trends will likely remain the dominant driver of stock specific moves within the sector over the coming weeks, alongside any further policy clarity from US authorities on the scope of the proposed tariff plan.

Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).

Frequently Asked Questions

Why is the Nifty Pharma index falling for a second day?

Ans. The Nifty Pharma index is extending losses for a second straight session as the sector continues digesting Wednesday’s tariff related selloff, with Dr Reddy’s Laboratories again the biggest decliner today.

Which stock is leading the Nifty Pharma index losses today?

Ans. Dr Reddy’s Laboratories is leading the Nifty Pharma index losses today, down 2.99 percent on heavy volume of 2.43 million shares.

Why is Dr Reddy’s Laboratories falling so much within the Nifty Pharma index?

Ans. Dr Reddy’s Laboratories is falling due to both the broader tariff related pharma sector weakness and its own weak Q1 FY27 results, which showed profit down 69 percent year on year.

Are today’s Nifty Pharma index declines as severe as Wednesday’s?

Ans. No, today’s declines within the Nifty Pharma index are more moderate, with most constituents other than Dr Reddy’s falling by less than 1.5 percent, compared with the sharper Wednesday selloff.

Which pharma stock held up best in the Nifty Pharma index today?

Ans. Glenmark was among the mildest decliners in the Nifty Pharma index today, down just 0.22 percent.

Is the Nifty Pharma index decline a buying opportunity?

Ans. This article does not constitute investment advice. Investors should assess individual company tariff exposure and consult a SEBI registered investment advisor before investing.