Stock Market today, May 12 -- Nifty Pharma index cracked more than 2% in the morning trade on Monday as US President Donald Trump indicated his plans to cut drug prices in the US by 30-80%.

Trump on Sunday said that he plans signing sign an executive order on Monday morning, which, as per news reports, would lead to a cut in prescription drug and pharmaceutical prices by 30% to 80%.

The cut in prescription drug prices would have an immediate impact on Indian pharmaceutical companies selling drugs in the world's largest pharmaceutical market, the US. Indian companies have large exposure to the US markets.

Nifty Pharma index opened at 20,949.70 on Monday and slipped lower to hit an intraday low of 20,576, resulting in a 2% decline compar...