Nifty Pharma outperforms benchmarks, up 2%; Cipla, Sun Pharma hit 52-week highs
In contrast to the benchmark indices, the pharma and healthcare indices surged in a weak market.
In contrast to the benchmark indices, the pharma and healthcare indices surged in a weak market. Nifty Pharma jumped over two per cent against more than one per cent decline in barometer indices. Led by Cipla and Sun Pharma, which hit 52-week highs on Monday, the 20-share index touched the day's high of 13,241.10. Apparently, despite volatility, the Nifty Pharma index has gained over five per cent in the past one week against almost one per cent cut in Nifty50 and Sensex.
Cipla share price jumped around two per cent to trade at 52-week high value of Rs 1144.95 on the BSE, while Sun Pharma stock price gained marginally in early trade to hit fresh high of Rs 967.50 on the exchange.
Meanwhile, the actual rally was driven by Zydus Life Sciences and Lupin as they a gained almost six per cent each on BSE. Shares of Zydus Life Sciences were trading higher by 5.6% or up Rs21.80 to Rs 408.50 per share and Lupin stock price jumped 5.7% to Rs 718.30 per share in BSE intraday trade on Tuesday.
Other top gainers were Aurobindo Pharma and Sanofi India, which gained 4.6% and 3% respectively. Aurobindo Pharma share price traded at Rs 533.40 a share, while Sanofi India stock traded at 5963.75 per share on the BSE.
Meanwhile, ahead of closing bells, benchmarks dropped over one per cent. The Nifty50 traded near 16,900, while the Sensex around 56800 amid weak global cues.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.