The Nifty Pharma index was trading 1.36 per cent down at 12853.1.

Mahindra Holidays & Resorts India Ltd., incorporated in the year 1996, is a Mid Cap company (having a market cap of Rs 4234.21 Crore) operating in Tourism & Hospitality sector.

A total of 19,525 shares changed hands on the counter till 10:51AM (IST)

“We reduced one tech stock and a little of these outperformers by like 30-30, 50-50 bps because if you have to buy something continuously, you have to sell something because it is not new money. We are talking about rotation within the 100% portfolio in our long only funds in India."

“While FMCG stocks may not fall given that holders of these stocks generally do not sell because they are long term plays, appreciation of stock price could be tough. In that context, these will be the hiding places if you want to park capital and prevent downsides. But they are not places for aggressive investors who want to make money. “

“People do want exposure to insurance which is a buoyant sector but we are now going to get Rs 75,000 crore worth of exposure and there is no question in my mind that it is time for LIC to come but whether the market will bear it easily or it will be like an indigestion, we have to see. I actually think it will be a bit of indigestion.”

Phoenix Mills Ltd., incorporated in the year 1905, is a Mid Cap company (having a market cap of Rs 17291.58 Crore) operating in Real Estate sector.

The agency was carrying out searches in connection with a 2021 money laundering case registered by the agency in connection with a plot in Palghar on the outskirts of Mumbai. While the restraining order from the Delhi High Court was in connection with a different case, the officials insisted that no coercive action be taken until the Bombay High Court hears its matter.

Gold prices hit a near nine month-high on Tuesday, after Russia ordered troops into breakaway regions of eastern Ukraine, boosting demand for the safe-haven metal. Spot gold was up 0.2% at $1,909.54 per ounce, as of 0035 GMT, after scaling its highest since June 1 at $1,913.89 per ounce earlier. U.S. gold futures gained 0.7% to $1,913.60.

Cadila Healthcare Ltd., incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 37996.21 Crore) operating in Pharmaceuticals sector.