Indices: Stock market update: Nifty Pharma index falls 0.19%
The Nifty Pharma index closed 0.19 per cent down at 13238.85.
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The Nifty Pharma index closed 0.19 per cent down at 13238.85.
Based on the OI percentage, 87 stocks including Oracle Financial, Dr Lal PathLabs, LTIMindtree, Metropolis Healthcare, and Ashok Leyland saw a long build-up.
Based on the OI percentage, 63 stocks including Tata Chemicals, Dr Lal PathLabs, Wipro, Federal Bank and State Bank of India saw a short build-up.
Shares of Indian pharmaceutical company, Ipca Laboratories, fell by 3% after the US Food and Drug Administration (USFDA) issued a Form 483 report, citing 11 observations of its API manufacturing facility situated in Ratlam. Form 483 is issued when an inspector has found conditions that could violate FDA regulations. Ipca said it takes quality and compliance issues seriously and will submit a response in the prescribed time. Trendlyne data showed that the stock's day RSI (14) is at 57.8, while the MACD is above its center and signal line, which is a bullish indicator.
The US FDA issued a Form 483 with 11 observations to Ipca Laboratories Ltd after conclusion of inspection at API manufacturing facility situated at Ratlam, Madhya Pradesh.