The Nifty Healthcare Index rose more than 100 points after a gap start to boost markets on Tuesday. Apollo Hospitals hit a fresh 52-week high of Rs 5,046 to lead earnings, while Torrent Pharma and IPCA Laboratories it also advanced based on the latest credit ratings.
Fortis and Laurus Labs were also in the fast lane. On the other hand, Biocon, Pfizer and Alkem Lab were fighting.
Sensex exceeds 57,100, the firm Nifty50 close to 17,000 led by financial and pharmaceutical stocks. At around 12:15 p.m., BSE Sensex was trading at 57,104.57 to 214.81 points or 0.38% and Nifty50 at 16,995.65 to 64.60 points or 0.38%.
Nifty Healthcare traded at 9,139.65 until 103.30 points or 1.14t%, reaching a high of 9,158.10 and a low of 9,053.75 during intraday trading on Tuesday.
Apollo Hospitals gained 4.84% to Rs4,988.00 a piece after hitting a new high early on Tuesday. The stock has seen an uptrend after reporting its mid-month quarterly earnings for the first quarter (ending June) of the current fiscal year in which the health major reported gains compared to losses in the prior-year quarter. .
Ipca Labs was also up almost 4.5% to Rs2,591.45 a piece. CRISIL Limited has reaffirmed its credit rating for the Ipca Laboratories Limited commercial paper program. The credit rating agency has reaffirmed the CRISIL A1 + rating in the company's Rs50cr commercial paper program.
Torrent Pharma was also up 1.22%. ICRA Limited has reaffirmed Torrent Pharma's credit rating at AA (NCD) and A1 + in the commercial paper program and revised the outlook to positive.
Fortis (up 2.33%) and Laurus Lab (up 1.67%) also performed better. Sanofi, Sun Pharma and Natco Pharma also gained more than 0.8%, respectively.
Biocon plunged 0.6% to Rs 354.50 a piece, while Pfizer fell more than 0.4% to Rs 5,705.75 a piece. Alkem Lab and Cadila also traded in the red. Of the 20 stocks on the Nifty Helathcare Index, 16 advanced and 4 declined.
