Stock Market Today, Feb. 10 -- Indian pharma stocks faced significant selling pressure in today's session, February 10, driven by weak earnings in select companies and fears that former U.S. President Donald Trump could introduce a universal trade tariff of at least 10% on all imports, potentially affecting pharmaceutical exports.
As a result, 19 out of 20 constituents of the Nifty Pharma index declined, with Alkem Laboratories and Ipca Laboratories emerging as the top losers, plunging 7% and 4.1%, respectively. The index dropped 2.12% during the session.
The Nifty Pharma index ended January with a 9% decline, as weak earnings from major Indian pharmaceutical companies prompted brokerages to lower their valuation multiples. Additionally...
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