Sensex, Nifty fall as pharma shares weigh; Pfizer Indian unit jumps

Sensex and Nifty open lower Sensex and Nifty open reduce

Indian shares fell on Monday, weighed down through losses in pharmaceutical shares, despite the fact shares of Pfizer Inc's Indian arm jumped on high-quality information for the dad or mum company's experimental tablet towards COVID-19.

The blue chip NSE Nifty 50 index fell 0.30% to 17,863.05 and the benchmark S&P BSE Sensex fell 0.29% to fifty nine,895.forty via 9:31 am.

Markets had won in Thursday's special one-hour trading session and have been shut on Friday for the festive season of Diwali.

On Monday, shares of Pfizer Ltd received as a whole lot as 8.three% after its guardian referred to on Friday that its experimental COVID-19 antiviral tablet cut through 89% the opportunity of hospitalization or demise for adults prone to severe disease.

The Nifty Pharma Index misplaced 1.ninety seven%, weighed down by way of a 7.9% fall in active pharmaceutical ingredient maker Divi's Laboratories, regardless of the company posting mighty September-quarter results on Saturday.

Divi's makes the API for regularly occurring versions of Pfizer rival Merck's COVID-19 antiviral capsule molnupiravir.

Broader Asian markets have been blended as buyers looked forward to a reading on U.S. inflation later in the week.

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