Pharma Sector Bleeds Red: Even Defensives Crumble in Risk-Off Storm 

Mumbai, Mar 23: Pharma stocks were largely in the red on both the BSE and NSE on Monday, showing that even a traditionally “defensive” pocket was not fully insulated from the broader risk-off mood in the market. Selling was spread across large, mid, and specialty names, with traders focusing more on near-term positioning and sector-wide sentiment than on stock-specific positives. 

The sharpest cuts came in Abbott India, which slipped -4.04% to ₹25,635, making it the biggest loser in this pack. The fall stood out because Abbott is usually seen as a relatively stable, steady-growth healthcare play, but the day’s tape suggested investors were willing to book profits and reduce exposure even in quality names. 

Close behind, Mankind Pharma dropped -3.19% to ₹1,936.10, while Ajanta Pharma declined -3.11% to ₹2,814.30. These two moves placed them among the top 2–3 losers for the session, signalling pressure across domestic formulations and branded-generic themes. Glenmark Pharma was also weak, falling -3.00% to ₹2,114.70, reinforcing the broader pattern of selling across the sector rather than a single isolated trigger. 

Major Pharma Stocks Down 

The weakness was not limited to a few names. Several widely tracked companies posted meaningful declines: Biocon fell -2.82% to ₹370.20, JB Chemicals slid -2.85% to ₹2,077.60, and Granules India lost -2.70% to ₹575.00. On the larger side, Torrent Pharma moved down -2.29% to ₹4,172.60, Natco Pharma dropped -2.15% to ₹938.60, and Alkem Laboratories eased -2.04% to ₹5,150.50. Even names that were relatively resilient still traded negative: Sun Pharma was down -0.78% at ₹1,763.30, and Gland Pharma fell -1.09% to ₹1,609.30. 

Among other frontline counters, Dr Reddy’s Laboratories declined -1.65% to ₹1,277.50, Aurobindo Pharma was down -1.54% at ₹1,271.50, Zydus Life Sciences slipped -1.52% to ₹877.00, and Cipla lost -1.37% to ₹1,239.20. Lupin also traded lower, down -1.42% at ₹2,289.50. 

The majority of the sectoral stocks were in the red, underlining the session’s cautious tone for pharma on both exchanges. 

BSE Opens Lower 

On Monday morning, Indian markets opened sharply lower, with BSE Sensex falling around 1,300-1,400 points and NSE’s Nifty 50 declining below 22,800 amid the rising conflict in the Middle East and the surging crude oil prices. This trend, arising from a rapid selloff, shows an escalating pressure in risk aversion. 

Amid the rising US-Iran tensions in the Middle East, President Trump had given a 48-hour ultimatum warning of major escalation including threats to strike Iran’s power plants if it was not reopened.  

 Source: https://www.bseindia.com/sensex/code/84