Nifty slides below 25,000 level; pharma shares underpressure

The key equity benchmarks traded with modest losses in the mid-afternoon trade, as market sentiment remained cautious due to continued FII (Foreign Institutional Investor) selling and the monthly Sensex expiry. The Nifty slipped below the 25,000 level. Pharma share extended losses for the fourth consecutive trading session.

At 14:28 IST, the barometer index, the S&P BSE Sensex slipped 295.86 points or 0.39% to 81,479.77. The Nifty 50 index lost 90.45 points or 0.38% to 24,966.45.

In the broader market, the S&P BSE Mid-Cap index fell 0.32% and the S&P BSE Small-Cap index declined 0.48%.

The market breadth was negative. On the BSE, 1,559 shares rose and 2,535 shares fell. A total of 164 shares were unchanged.

Buzzing Index:

The Nifty Pharma index fell 0.77% to 22,009.70. The index dropped 2.98% in the four consecutive trading sessions.

Ajanta Pharma (down 2.14%), Dr Reddys Laboratories (down 1.92%), Cipla (down 1.75%), Torrent Pharmaceuticals (down 1.65%), Zydus Lifesciences (down 1.59%), Divis Laboratories (down 1%), Alkem Laboratories (down 1%), Lupin (down 0.96%), J B Chemicals & Pharmaceuticals (down 0.96%) and Natco Pharma (down 0.89%) declined.

On the other hand, Glenmark Pharmaceuticals (up 1.27%), Aurobindo Pharma (up 0.85%) and Mankind Pharma (up 0.19%) edged higher.

Numbers to Track:

The yield on India's 10-year benchmark federal paper shed 0.02% to 6.482 from the previous close of 6.483.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 88.7025 compared with its close of 88.7500 during the previous trading session.

MCX Gold futures for 3 October 2025 settlement gained 0.51% to Rs 1,13,131.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.01% to 97.50.

The United States 10-year bond yield fell 0.12% to 4.143.

In the commodities market, Brent crude for November 2025 settlement lost 51 cents or 0.74% to $68.80 a barrel.

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