In the domestic market, barometers extended losses and hit fresh trade low in the morning trade. The Nifty traded tad below the 18,250 level. Also, the shares of Pharma extended their downfall for a third straight day.

The barometer index, the S&P BSE Sensex, was down 300.17 points or 0.49 per cent to 61,450.43. The Nifty 50 index lost 96.70 points or 0.53 per cent to 18,247.20. The S&P BSE Mid-Cap index dropped by 0.70 per cent, while the S&P BSE Small-Cap index slipped by 0.50 per cent.

On the Bombay Stock Exchange (BSE), 1,282 shares hit a high, and 1,977 shares went down. A total of 157 shares remained the same. The Nifty Pharma index tumbled at 0.68 per cent to 12,860.75. The index has declined 1.35 per cent.

Following are the top losers named Glenmark Pharmaceuticals, down 4.64 per cent; Aurobindo Pharma, down 1.55 per cent; Laurus Labs, down 1.84 per cent; Granules India, down 1.55 per cent and 

Ipca Laboratories is down 1.45 per cent, Gland Pharma is down 1.08 per cent, and Torrent Pharmaceuticals is down 1.04 per cent

Bajaj Healthcare rose 2.83 per cent. The pharma company announced completing the first-ever pre-approval inspection by the USFDA of its Vadodara API facility.

Sun Pharma Advanced Research Company (SPARC) jumped 0.85 per cent. The US drug regulator has approved Sazaby, phenobarbital sodium powder for injection to treat neonatal seizures, announced by the company.

Aurobindo Pharma fell 1.19 per cent. The product is expected to be launched by the fourth quarter of FY23. The approved product has an estimated market size of around US$ 145 million for the twelve months ending September 2022, according to IQVIA.